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Free AccessNZD/USD last deals at $0.6764, barely..........>
KIWI: NZD/USD last deals at $0.6764, barely changed on the day.
- Monday's Asia-Pac session saw the pair advance to its intraday peak at $0.6783
post-Tokyo fix, with the move inspired by a strong showing from regional
equities and a RTRS source story suggesting that the U.S. "tempered demands that
China curb industrial subsidies as a condition for a trade deal after strong
resistance from Beijing." However, NZD/USD failed to hold gains and slid into
negative territory in the London morning. A modest recovery towards the end of
the day allowed it to finish unchanged.
- Bulls continue to target the the psychological $0.6800 level, which provided a
layer of technical resistance on Apr 3 & Apr 4. break above would open up the
100-DMA/50-DMA at $0.6807/10. Conversely, the 200-DMA at $0.6733 continues to
draw bearish attention, while a move through that level would shift the downside
focus to Friday's monthly low of $0.6714.
- Domestic CPI data, due Wednesday, provides the focal point of this week in New
Zealand. Later on Wednesday, China will release its GDP, retail sales,
industrial output, and unemployment figures.
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.