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Risk aversion evident in other..........>

AUSSIE-KIWI
AUSSIE-KIWI: Risk aversion evident in other markets has had little net impact in
AUD/NZD, after AUD initially underperformed on the back of a lack of notable
headway made at the latest round of U.S.-China trade talks (inferred from
MOFCOM's communique on the matter).
- AUD's initial underperformance saw the rate hit a low of NZ$1.0546, last 5
pips softer on the day at NZ$1.0561. Wednesday's close below the 50-DMA
(NZ$1.0590 today) will have pleased bears, and the level now becomes the initial
point of resistance. Support noted at the Jan 7 low of NZ$1.0542, with a break
opening up NZ$1.0500.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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