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AUD/NZD continues its pullback from.....>

AUSSIE-KIWI: AUD/NZD continues its pullback from the NZ$1.0700 region, most
recently aided by a softer AU NAB Biz survey. Rate last trades ~30 or so pips
lower at ~NZ$1.0650.
- Yesterday's low at NZ$1.0632 provides the initial bearish target, with a break
there opening the way to the 21-DMA at NZ$1.0609.
- The 2-Year AU/NZ swap spread sits a touch back from the recent high, much like
the AUD/NZD cross.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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