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NZD/USD last seen at $0.6537, a touch higher...>

KIWI: NZD/USD last seen at $0.6537, a touch higher on the day. This occurs after
the pair added 15 pips Monday, after a spillover from post-election AUD strength
provided support in Asia-Pac hours, even as gains were likely capped by the
ongoing Sino-U.S. trade spat.
- Worth noting New Zealand overtook China as the best major Asia-Pac stock
market in 2019.
- The rate's 50-DMA crossed below its 200-DMA yesterday, with the resulting
death cross formation pointing to an underlying bearish sentiment. A fall
through the Nov 2018 low/Friday's YTD low at $0.6515/14 would open up the lower
1.0% 10-DMA envelope at $0.6494. Meanwhile, any break above Friday's high of
$0.6547, which continued to cap gains on Monday, would bring the 21-DMA at
$0.6599 into view.
- NZ highlights this week include retail sales and trade balance, due Wednesday
and Friday respectively. The bi-weekly GDT auction, due in the London afternoon,
will also provide some interest.

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