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Trimming Wednesday's Losses

NZD

NZD/USD prints at $0.6255/60, the pair is ~0.2% higher today.

  • Kiwi has trimmed some of yesterday's losses in Asia this morning, the bird has ticked higher alongside US Equity Futures with US Tsys trimming some of their gains seen yesterday.
  • Technically an uptrend is firmly intact, bulls target a break of the $0.63 handle which opens $0.6412 (high from Jul 13). On the downside bears focus on the $0.62 handle and the 20-Day EMA ($0.6163).
  • AUD/NZD sits below the $1.08 handle dealing in narrow ranges for the most part.
  • Domestic newsflow has been limited today, and the local data docket is empty for the remainder of the week.
  • Wider swings in risk sentiment will be the main driver in NZD.

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