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NZD/USD starts the day on a slightly softer....>

KIWI
KIWI: NZD/USD starts the day on a slightly softer footing and last sits -14 pips
at $0.6033. The rate continues to unwind gains registered in Monday's Asia-Pac
session alongside AUD, amid a holiday-thinned liquidity, on the back of plans of
partial loosening of social distancing measures in Australia. 
- New Zealand has moved into level 3 alert from level 4 at 23:59 NZST last
night. PM Ardern declared that the nation has "won the battle" against Covid-19
as "there is no widespread, undetected community transmission in New Zealand".
She was cautious while talking about the outlook, but said that the country can
move out of level 3 fairly quickly if citizens stick to the off'l guidelines.
- Monday saw the rate reject the 50-DMA, today at $0.6072, before it began its
pullback, encouraging bears to target Apr 23 low of $0.5911. Below there would
expose Apr 3 low of $0.5844. Bulls look to take out the 50-DMA before setting
their sights on Apr 14 high of $0.6131.
- Looking ahead, New Zealand's trade balance hits on Wednesday, ANZ Business
Confidence comes out on Thursday & ANZ Consumer Confidence is due on Friday.

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