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Kiwi dollar took advantage of yesterday's U.S. dollar weakness and bounced smartly after it broke below a confluence of October low, 2015 - 2016 trendline, 200 DMA and 0.70 level. The currency is a top G10 high-yielder and should stay in favour even as U.S. dollar yields gradually rise.
The current pullback may find some resistance at the late October lows (0.71) and then near 50 and 100 DMA (0.72). Area between 0.70 and 0.6880 (00's, 38.2% retracement, 50 WMA, 100 WMA, H2 2015 highs) will come …
The current pullback may find some resistance at the late October lows (0.71) and then near 50 and 100 DMA (0.72). Area between 0.70 and 0.6880 (00's, 38.2% retracement, 50 WMA, 100 WMA, H2 2015 highs) will come …