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NZD/USD loses altitude as the RBNZ said that...>

KIWI
KIWI: NZD/USD loses altitude as the RBNZ said that they have "begun scoping a
project to refresh our unconventional policy strategy and implementation," while
work is "at a very early stage." RBNZ's comments were released in a response to
an Official Information Act request and the Bank declined to share further
details. NZD/USD last sits at $0.6739, 20 pips worse off.
- The 200-DMA at $0.6723 provides the initial bearish target. A break here would
open $0.6710, which represents the 50% retracement of the fall from $0.6939 to
the YtD low of $0.6482. Conversely, bulls look to the 61.8% retracement of the
aforementioned range, located at $0.6764, where the rate closed on Friday.
- This comes after NZD/USD edged lower yesterday. The initial move higher was
capped at $0.6787 and NZD/USD fell in the second half of the day, as the
greenback gained poise.
- Wednesday's publication of trade balance numbers headlines NZ economic docket
this week.

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