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NZDUSD benefitted from the broader based.......>

KIWI
KIWI: NZDUSD benefitted from the broader based moderation in the USD during
Asia-Pacific hours, adding around 25 pips to trade at ~0.7020 (off of 0.7023
highs).
- There is talk of offers around 0.7040.
- NZDUSD's immediate bearish focus remains on the low from December 20 2017
(0.6952), although the Bollinger base (0.6928) and oversold studies remain the
key issues for bears. Layers of resistance remain with bulls now needing a close
above the high from May 01 (0.7040) to gain breathing room.
- Focus now moves to next week's RBNZ MonPol decision, and the release of the NZ
Budget in 2 weeks time.
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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