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NZD down 15 of the last 16 sessions............>

KIWI
KIWI: NZD down 15 of the last 16 sessions initially struggled overnight on
extended US-China trade rhetoric and Bbg headlines from the NZ treasury that
said RBNZ could cut the OCR to -0.35% in a crisis. NZDUSD touched pullback lows
of $0.6440 but later improved with risk after the stronger-than-expected Yuan
fix. Despite this, recovery efforts hold shallow and keeps the longer-term
downtrend intact. The 50% retracement of $0.6378-0.6499 comes in at $0.6439, a
break of this level & the $0.64 handle opens recent cycle lows at $0.6378. 

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