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NZD/USD Steady After A Greenback-Driven Rally

KIWI

Broader USD sales allowed NZD/USD to have a look above a key resistance
from Jul 23 high of $0.6690 on Monday, but the rate failed to make much
headway beyond there and topped out at $0.6693. Greenback weakness was
the main driver, amid little of note in the way of local factors.

  • NZD/USD last seen little changed at $0.6686, awaiting fresh catalysts.
  • Bulls look for a jump above yesterday's peak before turning focus to
    Dec 31, 2019 high of $0.6756. Bears need a fall through Jul 24 low of $0.6615
    before targeting $0.6532-28, which limited losses on Jul 15-20.
  • NZ building permits & final ANZ Business Confidence Survey are due
    Thursday, with ANZ Consumer Confidence coming up on Friday.

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