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NZD/USD last +5 pips at $0.6316 after the......>

KIWI
KIWI: NZD/USD last +5 pips at $0.6316 after the cross struggled on Thursday,
with general USD strength and soft domestic business confidence data weighing,
even as some pointed to the potential for positive developments on the Sino-U.S.
trade front in the wake of the latest MOFCOM weekly press briefing out of China.
Rate ignored local data released earlier today.
- Thursday saw a fresh cycle low for the pair at $0.6304. Bears will now target
the psychological $0.6300 level. Below there, they would look to the longer-term
downtrend support base on the range in play since June 2018, which comes in at
$0.6269 today. Bulls need to recover shorter trend broken support to regain some
poise, this comes in at $0.6345 today.
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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