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KIWI: NZD/USD has also benefitted from the uptick in risk sentiment, adding 10
or so pips to last deal at $0.6840, after printing a session high of $0.6845.
- Bulls would have taken comfort in support emerging ahead of $0.6674 (May 2016
low), along with correcting oversold studies, which provided the impetus for a
bounce last week. This week bulls look for a close above $0.6937 (55-DMA) to
hint at a move back to $0.7059-0.7157. Bears now need a close below $0.6797
(high July 05 now support) to ease pressure on 0.6867 (21-DMA).
- The REINZ house price data will provide the highlight in a domestic data-light
week, with eyes on next Tuesday's Q2 CPI release.