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NZD/USD last trades at $0.6897, 10 pips........>

KIWI
KIWI: NZD/USD last trades at $0.6897, 10 pips better off on the day, after
closing 4 pips higher Tuesday, with the rate sticking to a ~30 pip range
throughout the session.
- The release of NZ trade balance data in the NY/Asia crossover applied some
modest pressure to kiwi. In January, NZ registered a wider than exp. trade
deficit of NZ$914mn vs. prev. surplus of NZ$12mn. The impact of the release
proved modest and short-lived.
- Bulls need to clear yesterday's peak at $0.6903 before attempting a move at
the Jan 31 high of $0.6939. On the downside, initial focus falls on $0.6871,
where the rate bottomed yesterday, and a break below would open up the 21-DMA at
$0.6840.
- NZ focus turns to biz. confidence due tomorrow and building permits due
Friday. Chinese PMI data, due Thursday & Friday, will also draw attention.

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