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NZD was the standout performer in G10..........>

KIWI
KIWI: NZD was the standout performer in G10 overnight after the release of
improved NZ Business Confidence data. NZDUSD improved +0.75% on the session with
a move through the 100-dma ($0.6841) to $0.6859 and holds firm at typing.
Near-term resistance is seen at $0.6897 which represents the 61.8% retracement
of $0.6970-0.6778, a break of the $0.69 handle opens the Dec 11 high at $0.6912.
AUDNZD dipped under NZ$1.05 to print extended pullback lows of NZ$1.0477 with
bears targeting a break of the Dec 10 ytd low at NZ$1.0434. Below here and
expect protection on approach to the NZ$1.04 level, ahead of the longer-term
76.4% fibo of NZ$1.0037-1.1430 at NZ$1.0366. 

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