NZDUSD (0.7319): The New Zealand dollar was seen rallying back to the resistance area of 0.7333 0.7280 in early trading today. The kiwi dollar was supported by the stronger inflation expectations data. We expect that the currency pair could turn flat as it trades within this resistance level. The bias remains to the downside with NZDUSD likely to test the lower support around 0.7160. In the event that NZDUSD breaks past the 0.7333 level, we can expect further gains that could be established.
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