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NZD/USD has held lower in early trade this.....>

KIWI
KIWI: NZD/USD has held lower in early trade this week, after registering a
bearish outside pattern last week. Monday saw the rate pressured by the spill
over from a softer Chinese equity complex.
- The pair last deals at $0.6675, 5 pips or so softer on the day. Immediate
support is located at $0.6668, last week's low. A break here would bring the
January 2 low at $0.6652 into view, with the next level of support below there
noted at $0.6633, which represents the 61.8% retracement of the move from
$0.6425 to $0.6970. The 50% retracement of the same move, at $0.6697, and the
psychological $0.6700 level form the initial resistance area.
- Tomorrow's Australian CPI release will garner the interest of NZD traders
ahead of the ANZAC holiday, scheduled for Thursday.
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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