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NZD/USD has shed 12 pips and last trades at....>

KIWI: NZD/USD has shed 12 pips and last trades at $0.6653, as USD has benefited
from the suspension of U.S. tariffs on Mexico.
- Friday saw price action driven by the broader greenback fluctuations. A
particularly weak NFP report out of the U.S. allowed the pair to shoot higher,
before it topped out at $0.6682 just ahead of the WMR fix. Having eased a tad
into the close, the rate finished 43 pips higher on the day.
- On the technical front, bears look to the 50-DMA at $0.6632. A break here
would open $0.6614/17, which limited losses towards the end of last week. Bulls
look to recover Friday's peak/May's peak at $0.6682/85 before challenging
$0.6710, which represents the 50% retracement of $0.6939-$0.6482.
- NZ Tsy will release its monthly economic indicators at the top of the hour.
Later this week, NZ food price index & BusinessNZ m'fing PMI will be published
on Friday. Today's publication of Chinese trade balance is also awaited.

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