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Free AccessNZD/USD last deals at $0.6832, off of worst....>
KIWI: NZD/USD last deals at $0.6832, off of worst levels, but 16 pips lower on
the day. The pair was weighed on by the RBA Feb meeting minutes, which seemingly
revealed an increase in the Bank's concern about falling house prices and the
knock on effects for consumption. NZD/USD extended losses subsequently, as
broader USD strength came to the fore.
- NZD/USD stuck to a 35 pip range.
- After the rate fell below $0.6840, which limited losses yesterday, bears
target the 21-DMA, located 20 pips below that level. The next layer of support
below is provided by the 50-DMA at $0.6786. Meanwhile, bulls look for a jump
above the upper 1.0% 10-DMA envelope at $0.6860, which would bring yesterday's
high of $0.6894 into view.
- The NZ economic calendar this week is rather empty, with Q4 PPI data due
tomorrow. Any further developments in Sino-U.S. trade relations will be closely
watched.
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.