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Buying dips on NZD - FXWW

FXStreet (Bali) - Sean Lee, Founder at FXWW, continues to endorse the idea of buying dips on NZD, both from an intraday and medium-term perspective.

Key Quotes

"NZD/USD has bounced nicely of important technical support levels at .8400 and the bulls are threatening to re-take control. Stops were triggered above .8500 and now we’ve settled back near .8490."

"Talking my position as usual, but I like the buy-dip strategy both intraday and medium-term although I’d be surprised if we trade outside of .8460/.8530 during Asian trade."

"AUD/NZD has been interesting recently, with plenty of talk in the professional marketplace about large stops below 1.0920. Yet, every time we got close to that level, we saw a healthy bounce! Sounds like somebody might have been playing games, talking about stops and actually trying to buy? Just a guess on my part but 1.0920 is still the crucial level here."

"I’m still bearish on USD/CAD and I suspect that there will be plenty of stops sub-1.0860. It won’t move during Asian trade but maybe these levels get tested pre-w/e during North American trade?"

USD/JPY riding yen weakness

USD/JPY is trading at 102.51, up 0.06% on the day, having posted a daily high at 102.53 and low at 102.44.
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Kiwi seeking bids below $0.85

There is some mild pressure on the Kiwi in early Tokyo, with the pair retracing towards 0.8475 after tripping stops above the 0.85 round number overnight, reaching its highest at 0.8513.
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