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NZD/USD last seen at $0.6615, virtually........>

KIWI
KIWI: NZD/USD last seen at $0.6615, virtually unchanged on the day, ahead of the
release of the local ANZ Business Confidence Survey.
- Broader risk aversion applied weight to the pair yesterday, with the downside
momentum ignited into European hours. U.S. Pres Trump's tough rhetoric re: trade
talks with China worried investors, while the upcoming monetary policy decision
from the Fed also inspired caution.
- A fall below the channel support/psychological barrier at $0.6606/00,
potentially the first breach of the round figure in three weeks, would encourage
bears to set their sights on the lower Bollinger band (2%) at $0.6573. Bulls
need to recover the nearby 50-DMA at $0.6627 before challenging $0.6657, which
represents the 38.2% retracement of the $0.6939-$0.6482 slide/Jul 10 high.
- MNI understands that the RBNZ would prefer resorting to QE rather than cutting
the OCR below zero (see MNI Main wire at 11:57 BST 07/30).
- NZ ANZ consumer confidence tally will be published on Thursday. Focus also
falls on Chinese official PMI gauges, due later today, with China's Caixin
m'fing PMI coming up on Thursday.

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