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NZDUSD has moved back towards yesterday's......>

KIWI
KIWI: NZDUSD has moved back towards yesterday's session high, last trading at
0.7315, while the kiwi has also outperformed the AUD in the early part of
Tuesday's session.
- The NZD continues to trade in a resilient manner vs. USD, as the US' twin
deficits have crimped demand for the greenback, outweighing the interest rate
differential erosion between NZ & the US, the trade war backdrop & increased
volatility of financial markets, all of which would normally weigh on the kiwi.
- From a technical perspective NZDUSD's 21-DMA ($0.7296) remains a stumbling
block with the failure to gain traction above a concern for bulls. The $0.7243
support is key this week with bears needing a close below to shift initial focus
back to the 200-DMA. Bears need a close below the 200-DMA to hint at a move back
to Dec lows with below $0.7042 needed to confirm. Bulls now need a close above
$0.7323 to confirm focus on 2018 highs.
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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