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NZD/USD trades a handful of pips lower at......>

KIWI
KIWI: NZD/USD trades a handful of pips lower at the start to the week, as the
worrying coronavirus situation in the U.S. continues to dent risk appetite. A
rebound in China's industrial profits, released on Sunday, has failed to
outweigh familiar concerns. The rate sits -10 pips at $0.6413 as we type.
- Bears look for a fall through Jun 22 low of $0.6377, which would mean a
breakout from the recent trading range. Below that level opens the 200-DMA/23.6%
retracement of the Mar 19 - Jun 10 rally at $0.6326/21. Bulls look to claim Jun
23 high of $0.6533 before turning focus to Jun 10 peak, coming in at $0.6584.
- Looking into the local docket for this week: final ANZ Business Confidence
Survey is due Tuesday, with building permits due Wednesday.

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