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NZD/USD: technical picture is looking a little bearish - ANZ

Analysts at ANZ explained that the Kiwi spent the past 24 hours consolidating around 68 cents after breaking into a lower trading range late last week.

Key Quotes:

"Consolidation is likely again today, with a lack of obvious domestic catalysts to drive any range tests. While the technical picture is looking a little bearish, market positioning is likely to mean moves lower are somewhat of a struggle.

Support 0.6740. Resistance 0.6850."

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