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The NZD has outperformed its major peers.......>

KIWI
KIWI: The NZD has outperformed its major peers this morning, with no fundamental
news flow apparent.
- As a reminder, back on Friday Moody's noted that "New Zealand's credit profile
reflects high economic resilience and strong fiscal metrics; vulnerabilities
mitigated by effective institutions."
- From a technical perspective the NZDUSD cross has cleared Friday's high, with
the next level of resistance appearing to be Thursday's high of 0.7322. Bulls
take comfort in support emerging around the 21-DMA and bears now need a close
below Friday's low (0.7241) to confirm a break and shift initial focus back to
0.7130-81 where key DMA and WMAs are situated.
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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