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NZD/USD sheds around 15 pips in the wake of....>

KIWI
KIWI: NZD/USD sheds around 15 pips in the wake of the softest NZ ANZ business
confidence print since the GFC, with the internals of the survey also very
downbeat. Rate has printed a fresh cycle low of $0.6322, but has struggled for
follow through. As mentioned previously, bears will now target the psychological
$0.6300 level. Below there, they would look to the longer-term downtrend support
based one range in pay since June 2018, which comes in at $0.6269 today. Bulls
need to recover the broken support to regain some poise, this comes in at
$0.6347 today.
- Focus now turns to risk events from further afield, with the PBoC fix due
shortly & Aussie Q2 CapEx data due at the bottom of the hour.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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