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NZD/USD last seen at $0.6852, a touch higher...>

KIWI
KIWI: NZD/USD last seen at $0.6852, a touch higher on the day, after falling 40
pips Wednesday, as USTR Lighthizer (a noted China hawk) told U.S. lawmakers that
U.S.-China trade tensions "are too serious to be resolved with promises of
additional purchases." USD's recovery on the back of rising U.S. Tsy yields also
contributed to the rate's decline.
- Worth mentioning Fonterra revised its milk price forecast to NZ$6.30-6.60 from
prev. NZ$6.00-6.30, while it also cut its earnings predictions and suspended H1
dividends. The higher milk price forecast helped NZD/USD tick away from lows
towards the close of NY trade.
- The initial bullish target is provided by Wednesday's peak at $0.6902.
Meanwhile, the downside attention is drawn to the 21-DMA/Wednesday's low at
$0.6836/35 and a fall through that level would open up the 50-DMA & 55-DMA, both
located at $0.6793.
- NZ focus turns to domestic ANZ biz. confidence survey due at the top of the
hour. Chinese PMI data, due later today and Friday, will also draw some
interest.

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