NZD/USD: The New Zealand dollar eased from a 3-1/2 week peak recorded in the prior session, as markets speculate that Reserve Bank of Australia’s rate cut would put pressure on the Reserve Bank of New Zealand to ease again. The Kiwi trades 0.1 percent lower at 0.6590, having touched a high of 0.6604 on Monday, its highest level May 10.
Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data. Immediate resistance is located at 0.6653 (May 3 High), a break above could take it near 0.6685 (Apr. 30 High). On the downside, support is seen at 0.6550 (May 15 Low), a break below could drag it below 0.6474 (Oct. 4 Low).
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