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Forex: NZD/USD makes new highs on NZ FinMin remarks

FXstreet.com (Barcelona) - The kiwi just short into marginal new bull trend highs after the New Zealand finance minister Mr. English said chances of higher interest rates is more likely should house price inflation stay at current rate. English added that the country is headed for a budget surplus in 2014/2015, projecting a 20% reduction on debt to 20% by 2020.

Technically, as noted by Chris Moyer, editor at FXstreet.com: "The daily close above previous resistance at 0.8534 (Feb 15th high) is constructive and puts the next major resistance near 0.8600 (psychological level). Further resistance is at 0.8680 (July 2011 high). Initial support comes in at .8567 (9day MA on 1 hour chart), followed by 0.8552 (20day MA on 1 hour chart)."

EUR/AUD ends day sharply lower, Aussie employment data in focus

The EUR/AUD finished the session down 72 pips at 1.2394. Many attributed the weakness due to the Trade Data out of China which showed stronger imports than forecast and helped the Aussie maintain a bid across the board for much of the day. Market participants should be aware of the employment data coming out of Australia at 1:30 GMT which may have an impact on the pair later in the session.
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