Better than expected New Zealand GDP for Q3 didn't have much of an impact as Q2 was revised lower by an equal amount. U.S./New Zealand bond spreads have been falling since Q3 which has lead Kiwi to adjust lower.
The pair broke below the 2015 - 2016 channel a couple of days ago but stalled near 0.69. 50.0% retracement of the 2015 - 2016 upswing is the next target but a pullback to the big figure at 0.70 or 200 DMA is not excluded.
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