Daily FX Wrap and Strategy

The NZD/USD sits at a similar level this morning, around0.8560.The NZD/AUD came under initial heavy selling pressureafter the release of a stronger than expected HSBC ChinaPMI yesterday afternoon. Despite this, theNZD/USD managed to pop higher on the release. Itreached toward 0.8590 last evening before succumbing tobroader USD strength this morning. It now sits at 0.8560,with key support still seen just above the 0.8500 level.

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