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(M2)‌‌ Eyeing The 50-Day EMA

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Resistance At 50-DMA

NZD

The greenback rose alongside US yields on Thursday after positive ADP employment and services PMI data. NZD/USD dropped to lows of 0.7126 and closed at 0.7146, last up 3 pips at 0.7149.

  • Having broken support at 0.7180 next support is seen at 0.7120 with further support at 0.7090. Resistance is seen at the 50-DMA at 0.7167 and 100-DMA at 0.7181
  • Data earlier showed construction work done rose 3.7% in Q1 against estimates of 3.0%. According tot the survey 50% of respondents says Auckland new home projects have been moderately/severely hit by the pandemic, particularly with reference to costs and materials. Outside of Auckland 36% have been impacted.
  • There are no further releases on the economic docket today.

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