- NZD/USD 1 day: Stuck between 0.7300 and 0.7450, awaiting US dollar direction. Tonight's dairy auction will be watched.
- NZD/USD 1-3 month: Multi-month, we see further downside potential, the next major target being 0.7120. Low inflation and adversely affected agricultural production are local negatives. However, most important will be whether the US dollar extends its multi-year rally.


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