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Pressured, 20-Day EMA In Focus For Bears

NZD

NZD/USD prints at $0.6220/25, down ~0.4% in today's dealing.

  • The pair has been pressured as reports indicate US officials do not see it as necessary to guarantee all bank deposits at the current time (link here).
  • Bears look to target the 20-Day EMA which comes in at ($0.6217), a break through here opens $0.6085 the 2023 lows.
  • AUD/NZD continues to consolidate gains, the cross prints at $1.0765/75 up ~0.1%.
  • The New Zealand trade deficit narrows in February printing at -$700mn after a deficit of ~$1.9bn in January.
  • Cross asset flows are mixed, Hang Seng is firmer as are US equity futures. BBDXY is little changed and US Treasury futures are firmer.
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