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USD demand pressures NZD/USD to a low of.......>

KIWI
KIWI: USD demand pressures NZD/USD to a low of $0.6287, before edging back, last
13 pips lower on the day at $0.6295.
- Bears continue to eye the cycle lows at $0.6283, and a break there would open
the way to the downtrend channel base at $0.6267 (channel based on the period
since June 2018). Bulls need to recover broken trend support drawn off the May
23 low at $0.6341 today.
- Trans-Tasman matters will likely drive price action for the rate today, with
Aussie GDP input data, retail sales and the latest RBA MonPol decision all due
for release.
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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