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NZDUSD trades 20 pips softer at ~0.7255. -.....>

KIWI
KIWI: NZDUSD trades 20 pips softer at ~0.7255.
- NZDUSD's break of 0.7315 has lacked follow through, with bulls needing a close
above the high from April 05 (0.7322) to confirm focus on YtD highs.
- The 21-DMA (0.7256) more or less held on the earlier break lower, although it
is being tested again now. Bears needing a close below hourly support from Apr
03 (0.7243) to confirm a break of the 21-DMA & to shift initial focus lower.
- With limited economic data due out of New Zealand over the next week the NZD
may be driven by swings in broader risk sentiment & technical momentum, as
opposed to trading off of fundamentals.
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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