Free Trial

The flightless bird opened in Asia at..........>

KIWI
KIWI: The flightless bird opened in Asia at $0.7263 toward the lower side of
yesterday's $0.7248 to $0.7344 range, where rising US rate yields underpinned
the greenback. Locally, Westpac's Q3 Consumer Confidence data (2200GMT) provides
a modest event risk, Q2 was 113.4. Interestingly, yesterday's rally stalled
precisely on resistance, $0.7344 marks the 50% Fibonacci retracement on the
$0.7558-$0.7131 decline. Initial hourly resistance now lies at $0.7287, while
support is located at $0.7245 (61.8% fib $0.7184-$0.7344), a break opens $0.7222
(76.4% fib on the same move). Kiwi was last at $0.7260.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.