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Recent Ranges Respected, CPI On Tap

NZD

NZD/USD prints at $0.6200/05, the pair fell ~0.1% yesterday.

  • The pair respected recent ranges in yesterday's trading dealing in a $0.6180/0.6220 range for the most part.
  • Pressure was seen as a bid in USD/JPY spilled over into wider USD strength in the European session. Losses were pared and the NZD/USD firmed to deal in a narrow range above $0.62.
  • Bulls immediate attention is on the 20-Day EMA ($0.6226), from here they look to break the 200-Day EMA ($0.6256). Bears first look to break $0.6162, the low from April 17.
  • Cross asset wise yesterday DXY rose 0.2% and 10 Year US Treasury Yields were ~2bps higher. S&P500 was little changed.
  • Q1 CPI is on tap this morning, the Bloomberg survey median estimate sits at 1.5% Q/Q.
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