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Jun 16 - 08:55 PM

NZD/USD - Pops Higher After Strong NZ GDP

By John Noonan  —  Jun 16 - 06:57 PM
  • NZD/USD popped up to 0.7075 from 0.7048 after stronger than expected NZ GDP nAZN01A6GN

  • Strong growth data will likely result in hawkish turn in RBNZ expectations

  • NZD/USD fell over 1.05% after hawkish Fed and tested 200-day MA at 0.7038

  • The bounce to 0.7075 validates the 200-day MA as major support

  • Resistance is found at former support around 0.7110

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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