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NZDUSD has eased a tad on the back of the......>

KIWI
KIWI: NZDUSD has eased a tad on the back of the softer ANZ Business survey,
although the stronger than expected official Chinese PMI data may be providing
the cross with a degree of support. NZDUSD last at 0.6980, 10 pips softer on the
day.
- From a technical perspective bulls take comfort in the aggressive bounce &
close above the 21-DMA on Wednesday (0.6945) but now look for a close above the
May 30 high (0.6998) to confirm a correction targeting a move higher. Bears now
look for a close below the 21-DMA to gain breathing room.
- It is worth noting the huge NZ$2.06bln 0.6900 option expiry set to roll off at
today's 10AM NY cut.
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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