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NZDUSD is 5 pips higher, trading unchanged.....>

KIWI
KIWI: NZDUSD is 5 pips higher, trading unchanged at ~ 0.7045, although the kiwi
is underperforming the AUD as the AUDNZD reclaimed the 1.07 handle.
- NZDUSD's correcting oversold studies appear to be impacting the cross, with a
bounce from ahead of the 2018 low and relatively bullish close. Bulls now need a
close above hourly support from April 25 (0.7102) to initially target a
correction higher with the 200-DMA at 0.7165. Bears now look for a close below
the May 02 low (0.6983) to reconfirm immediate focus on the Dec 20 2017 low
(0.6952).
- Focus is on 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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