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NZD/USD flattens out near 0.6140 after testing 11-week high

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NZDUSD News

Fed,RBNZ

NZD/USD eased back into the 0.6140 level in early Wednesday trading as Kiwi traders await a reason to move.

Easing Greenback pressure gives Kiwi another leg into fresh highs. Momentum remains thin as NZD rtaders grapple with a lack of data. US GDP, PCE inflation prints to dominate the last half of the trading week. The economic calendar is notably thin except for the NZ government’s latest Budget Release on Thursday, leaving NZD traders adrift until Friday’s speech from Reserve Bank of New Zealand Governor Orr.

NZD/USD technical outlook The Kiwi is drifting into the high side against the Greenback this week, and the pair has closed in the green for four consecutive trading weeks. Despite recent upswings, the pair is hitting technical consolidation just north of the 200-day Exponential Moving Average at 0.6070.

 

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