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###POV...The flightless bird looks set to......>

KIWI
KIWI: ###POV...The flightless bird looks set to open in Asia toward the upper
side of the $0.7010 to $0.7041 range seen so far today, where modest US dollar
weakness on softer UST yields has given the kiwi a small lift. According to CFTC
data released last week, short positioning in kiwi has shifted back to extreme
levels
Given we are in the middle of the festive season where liquidity in currency
markets is scant, markets tend to move to the path that offers least resistance.
A close above the 100-dma ($0.7074) could be the first sign of a technical
driven rally that would target a move to the upper daily trend-line resistance
level of $0.7212, while support lies at $0.6999-87 (Dec25-21 lows).

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