AUD/NZD has ticked away from its........>

AUSSIE-KIWI: AUD/NZD has ticked away from its early low of NZ$1.0617 and last

deals at NZ$1.0621, 7 pips lower on the day.

- A monetary policy decision from the RBNZ provided yesterday's focal point. A

25bp cut to the OCR triggered a ~95 spike in AUD/NZD, allowing it to hit a

reaction high of NZ$1.0725, situated just a handful of pips shy of the YTD peak

at NZ$1.0732. However, the rate gradually eased off through the day, almost

entirely erasing its earlier gains.

- Worth noting that RBNZ Gov Orr told NZ lawmakers that the interest rate

outlook is now "broadly balanced." In an earlier interview, he said that "it's

too early to tell" if another cut will be needed, adding that thanks to

yesterday's move in the OCR "the exchange-rate pressure comes off."

- With AUD/NZD hovering just above its 21-DMA at NZ$1.0616, a move through the

level is needed to shift bearish focus to the NZ$1.0600 mark. Conversely, the

initial bullish target is provided by the 200-DMA, which kicks in at NZ$1.0660.