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NZD/USD last trades flat at $0.6564. - This....>

KIWI
KIWI: NZD/USD last trades flat at $0.6564.
- This occurs after the rate shed a dozen pips yesterday, as Chinese activity
data provided disappointment amidst prolonged uncertainty re: Sino-U.S. trade
relations. As a result, NZD/USD slid through the Asia-Pac session and the
European morning, bottoming just above $0.6550. A BBG report stating that U.S.
Pres Trump is expected to delay the May 18 auto tariffs revived risk sentiment
somewhat, prompting a degree of recovery in NZD/USD. Nonetheless, the rate
failed to move into the green.
- A fall below $0.6551, where the rate bottomed yesterday, would open up the
recent cycle lows of $0.6527. On the topside, focus falls on the down trendline
resistance at $0.6578 and above here would bring the 21-DMA, located at $0.6622,
into view.
- NZ PPI & BusinessNZ M'fing PMI both come out tomorrow.

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