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NZD/USD recoiled after an initial drop seen....>

KIWI
KIWI: NZD/USD recoiled after an initial drop seen in Monday's Asia-Pac hours, as
optimism surrounding Oxford Covid-19 vaccine research & signals that EU leaders
are edging towards a compromise in their fiscal talks bolstered risk appetite.
- NZD/USD little changed at $0.6576, with bulls looking to claim Jul 15 high of
$0.6584 before targeting Jul 9 high of $0.6601. Conversely, bears need a break
below Jul 14 trough at $0.6503 to bring Jun 30 low of $0.6385 into view.
- New Zealand's credit card spending data is due later today, with one eye on
comments from the RBA across the Tasman. Later in the week, NZ reports trade
balance on Friday.

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