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Ticks Higher On Wednesday

NZD

NZD/USD prints at $0.6335/40, the pair rose ~0.2% yesterday.

  • Kiwi ticked higher albeit in narrow ranges on Wednesday as lower US Tsy Yields and year-end flows weighed on the greenback.
  • NZD/USD printed a 6-month high before marginally paring gains, the pair comfortably held above the $0.63 handle.
  • Technically the uptrend remains intact; bulls target $0.6412, the high from 14 Jul. A break through here opens $0.6563, a Fibonacci projection. Bears focus on the 20-Day EMA ($0.6216).
  • AUD/NZD sits on the $1.08 handle as narrow ranges persist in the cross.
  • A reminder that the local docket is empty this week.

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