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NZD/USD's break above the August 22 high.......>

KIWI
KIWI: NZD/USD's break above the August 22 high ($0.6720) was limited to a high
of $6727 on Tuesday, although the rate has been more resilient than some of its
major counterparts in the face of a USD recovery in the latter half of Tuesday's
session, last ~$0.6720.
- Bulls continue to eye the pre-RBNZ decision area (~$0.6750), while support is
noted at ~$0.6670.
- Thursday's ANZ business confidence survey headlines the NZ docket this week.
As a reminder last week saw RBNZ Gov. Orr reiterate that the biggest risk to the
NZ economy comes in the form of business investment, so the upcoming release may
come under more scrutiny than usual.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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