Trial now

Over $58B Corporate Debt Added This Week


Remains on the front foot


‌‌(Z1)‌‌ Fails To Hold Onto Recent Gains

KIWI: NZD has also fallen afoul of the latest round of US protectionist
dealings, with NZD/USD last trading 20 pips or so lower at ~0.6815.
- Immediate focus is likely to remain on the global risk environment/any
response to the latest round of proposed U.S. tariffs from China.
- From a technical perspective bulls will have taken comfort in support emerging
ahead of the $0.6674 May 2016 low that along with correcting oversold studies
provided the impetus for a bounce last week, however, they still need a close
above the 55-DMA ($0.6928). On the other hand bears now need a close below the
high from July 05 ($0.6797) to ease pressure on the 21-DMA and below $0.6741 to
reconfirm focus on the YtD lows.
MNI London Bureau | +44 0203-865-3809 |