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Bearish Correction Still In Play


Bearish Extension


USDCHF Hovering Below Notable Resistance Area

KIWI: NZD/USD printed modest gains on Thursday, as risk assets recovered to a
degree, aided by a lack of immediate escalation in the U.S.-China trade war
after the U.S. outlined the latest round of tariffs to be imposed on China.
- NZD/USD has printed modest loses for the majority of the overnight session,
last dealing at $0.6770.
- Bears look for a close at fresh 2018 lows to shift focus to the weekly bear
channel base coming in around $0.6577 today. Daily studies are well placed for a
fresh leg lower. Bulls now need a close above the July 10 low ($0.6804) to gain
breathing room.
- Eyes are on next Tuesday's NZ CPI release.
MNI London Bureau | +44 0203-865-3809 |