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NZD/USD has dropped 5 pips thus far and last...>

KIWI
KIWI: NZD/USD has dropped 5 pips thus far and last trades at $0.6863 after
climbing ~30 pips Friday, on the back of positive news re: the latest round of
top-level Sino-U.S. trade talks, which took place last week, while soft U.S.
industrial production data added some pressure to the USD. 
- The expansion of NZ services sector accelerated in January, as PMI advanced to
56.3 from 53.2. 
- Initial support is located at $0.6816, which represents the 21-DMA, and a fall
below would open up the psychological $0.6800 level. Bulls look for a break
above the upper 1.0% 10-DMA at $0.6867 (briefly breached today), followed by
$0.6874, where the rate peaked Friday. 
- The NZ economic calendar this week is rather empty, but any further
developments in Sino-U.S. trade relations will be closely watched. As a
reminder, China-U.S. negotiations resume in Washington this week.

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