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NZD/USD slips after ANZ reported a decline.....>

KIWI
KIWI: NZD/USD slips after ANZ reported a decline in business confidence in New
Zealand. The headline index fell to 5.0 from the prior 8.0. Also worth noting
that China published its official PMI tallies at the same time as ANZ released
their survey. A minor beat in China's m'fing PMI was coupled with a slight miss
in the non-m'fing index.
- NZD/USD has shed 16 pips so far and sits at $0.6598 at typing. The rate broke
under the channel support/psychological barrier at $0.6606/00, hitting a new
three-week low. Bears turn focus to the lower Bollinger band (2%) at $0.6569; a
move through that level would support their case, suggesting a continuation of
the downtrend. Bulls look to recover the breached levels before targeting the
50-DMA at $0.6627.

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