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NZD/USD had a look below $0.6600 in............>

KIWI
KIWI: NZD/USD had a look below $0.6600 in pre-market indicative trading on the
back of Trump's China tariff related tweets but has recovered from worst levels
to deal 40 pips lower on the day at $0.6607.
- Bears look for consolidation below $0.6600 to open the way to the key
$0.6582-$0.6575 support area, which contains the April 24 & 25 lows, as well as
the flash crash YtD low. Bulls look to reclaim the 61.8% retracement of the move
from $0.6425 to $0.6970 at $0.6633 & 10-DMA at $0.6638, followed by downtrend
resistance at $0.6655 to open the way higher.
- Wednesday's RBNZ MonPol decision provides the major domestic risk event this
week, with OIS pricing a ~60% chance of an OCR cut. 2-Year inflation
expectations data will hit on Tuesday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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