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KIWI
KIWI: NZD/USD continues to hold around unchanged levels, last $0.6734, after the
pair suffered on Friday, against the broader risk averse tone.
- Having witnessed a 300+ pip rise on the recent uptrend, NZD/USD failed to
consolidate above the NZ$0.6800 level Thursday, suggesting bullish exhaustion
could be setting in (rate did touch knee-jerk highs of $0.6814 post-RBNZ before
retracing lower).
- Bulls continue to look for a close above $0.6800, with bears needing a move
back below the Nov 02 high at $0.6690.
- The NZ docket is relatively thin this week, so flow may be driven by broader
risk sentiment & major economic releases from Australia.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com