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NZDUSD has benefitted from the broader based...>

KIWI
KIWI: NZDUSD has benefitted from the broader based moderation in the USD during
early Asia-Pacific hours, adding around 10 pips to trade at ~0.7005. AUDNZD has
added 15 or so pips to trade at 1.0727, with AUD outperforming on the better
than exp. domestic data releases.
- Focus now moves to next week's RBNZ MonPol decision, and the release of the NZ
Budget in 2 weeks time.
- 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.
- AUDNZD's Topside hesitation is less than ideal for bulls with daily studies
correcting from overbought levels. Bears continue to look for a close below the
55-DMA (1.0663) to gain breathing room. While the 55-DMA supports bulls hold the
advantage with focus currently on 1.0780-1.0894 where key DMAs, WMAs and the
bear channel top are situated.
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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