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NZD/USD sits at $0.6590 at writing. - The......>

KIWI
KIWI: NZD/USD sits at $0.6590 at writing.
- The rate opened at best levels, alongside a decline in AUD/NZD as the AUD
continued to falter against a backdrop of political uncertainty.
- NZD/USD then struggled in early trade as risk off flows hit screens, before a
rally in Chinese equities aided risk appetite. After reclaiming the 50-DMA at
$0.6590 bulls will now try to settle above Friday's high at $0.6607, while bears
keep an eye on Friday's low at $0.6524.
- AUD/NZD bears now target the June 22 low (NZ$1.0711), followed by the figure
(NZ$1.0700) after Friday's close below the 200-DMA.
- As a reminder, on Monday New Zealand observed a holiday, while trade data, due
Thursday, provides the focal point of the local docket this week.

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