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NZD/USD was well bid on Wednesday, with both...>

KIWI
KIWI: NZD/USD was well bid on Wednesday, with both sides of the pair finishing
on the opposite ends of the G10 scoreboard. The rate was buoyed by firmer risk
appetite and in-line NZ trade data, with breakdown figures showing that exports
swelled to a record high. Meanwhile, cautionary tones in the Fed's post-MonPol
communique helped keep the greenback on the defensive.
- Wednesday's rally took the rate above Apr 14 high of $0.6131, a key near-term
resistance level. NZD/USD is little changed at $0.6136 this morning, with bulls
looking for further gains past the $0.6200 mark, towards the 100-DMA at $0.6315.
Bears need a retreat under the 50-DMA at $0.6063 to stave off bullish pressure
and target the next key support at $0.5911, Apr 23 low.
- New Zealand's final ANZ Business Confidence hits later today, while ANZ
Consumer Confidence comes out on Friday.

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