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The NZDUSD cross took out reported barrier.....>

KIWI
KIWI: The NZDUSD cross took out reported barrier interest through 0.7000 on
Tuesday which triggered stops on the way to a fresh 6-Month low of 0.6991. Broad
USD strength & a softer than exp. dairy auction didn't help the cross. Last at
~0.7010.
- NZDUSD's immediate bearish focus remains on the 0.6952 support from Dec 20.
The Bollinger base (0.6959) and oversold studies remain the key issues for
bears. Layers of resistance remain with bulls now needing a close above the
April 30 low (0.7031) to gain breathing room.
- Immediate focus is on the upcoming NZ labour market report due in ~15 mins.
The release may garner more attention than usual as a labour market mandate was
added to the RBNZ's PTA when Adrian Orr became Governor.
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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