The NZD/USD managed to (once again) keep its headabove the 200-day moving average into the close, losing0.2% to sit at 0.8460. The NZD was kept fairly range-bound on Friday, with dipslower toward 0.8400 (inspired by risk aversion) rejected.The area from 0.8640 down to 0.8400 continues to frustrateNZD bears, and this week’s data calendar would providethem with little cause for encouragement. We suspect thata sustained break below 0.8400 will need to be inspired bythe USD side of the equation.
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