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Rangebound vs USD, Consolidation Continues

NZD

NZD/USD prints at $0.6195/0.6200, the pair was little changed in yesterdays trade.

  • The pair was rangebound yesterday, operating in a ~30pip range during the session. Support was seen ahead of $0.6180 in the NY session and NZD/USD firmed off session lows.
  • Technically the pair continues to consolidate. Bears target 2023 lows at $0.6085, bulls look to sustain a break of the 200-Day EMA at $0.6261 to regain the uptrend.
  • AUD/NZD prints at $1.0720/30, a touch firmer in early dealing. Bears look to break 2023 lows at $1.0667. Bulls look to break $1.0890, the 200-Day EMA, to turn the tide.
  • Cross asset wise, S&P500 finished ~0.2% higher and DXY was ~0.3% lower. 10 Year US Treasury Yields were ~15bps firmer.
  • The domestic data calendar is empty today.
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