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The kiwi is underperforming in early dealing...>

KIWI
KIWI: The kiwi is underperforming in early dealing this week with NZDUSD trading
at ~0.7555 & AUDNZD dealing at 1.0565.
- NZDUSD's recovery from 0.7241 has resulted in focus having returned to YtD
highs (0.7438). The Bollinger top (0.7389) presents the key concern for bulls,
while bears look for a close below the high from April 06 (0.7324).
- AUDNZD's bounce from recent YtD & 9mth lows confirmed the significance of the
long term rising daily trend line off 2015 lows (coming in at 1.0473 today). The
Bollinger base (1.0482) adds an additional level of support, which is allowing
bulls to focus on the 21-DMA (1.0596) & the April 06 high (1.0608). Daily
studies are correcting from oversold levels.
- Q4 CPI, due Thursday, headlines the domestic docket this week.
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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