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Free AccessNZD/USD has held lower in early trade this.....>
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.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.