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NZDUSD was choppy over the latest NZ labour....>

KIWI
KIWI: NZDUSD was choppy over the latest NZ labour market report, with a brief
spike higher on the back of the strong AHE print, with NZDUSD touching highs of
0.7027. However, the move was faded, the private wage metrics were a tad soft,
as was the participation rate & the y/y employment change. Bids came back in, as
the USD traded lower & Chinese Caixin Manufacturing PMI beat exp. NZDUSD last
deals at 0.7020.
- NZDUSD's immediate bearish focus remains on the 0.6952 support from Dec 20.
The Bollinger base (0.6959) and oversold studies remain the key issues for
bears. Layers of resistance remain with bulls now needing a close above the
April 30 low (0.7031) to gain breathing room.
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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