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NZD underperformed overnight after the.........>

KIWI
KIWI: NZD underperformed overnight after the release of a downbeat NZ NZIER
release. NZDUSD closed below the 100-dma yesterday ($0.6813,) with the downtrend
extending to $0.6771. This brings the 38.2% retracement of $0.6425-0.6970 into
view at $0.6762, support is placed behind through $0.6740/60 (Series of previous
lows), ahead of the 200-dma at $0.6735 (not closed below since Mid Feb).
- NZDJPY dipped back under the 100-dma (Y75.63) to Y75.39. The 200-dma comes in
today at Y75.06, expect support behind on approach to Y75.00, ahead of the Mar
28 low at Y74.74.
- EURNZD cleared broken trendline support-turned-resistance to NZ$1.6540
targeting a topside break of NZ$1.66 & the Mar 21 high at NZ$1.6628.
- As previously mentioned in the 0716BST bullet, AUDNZD confirmed a falling
wedge pattern on the move to NZ$1.0496. Bulls need to clear the 100-dma &
trendline resistance at NZ$1.0494/1.0515 to extend the uptrend.   

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