AUD/NZD last trades at NZ$1.0443, 114...>

AUSSIE-KIWI: AUD/NZD last trades at NZ$1.0443, 114 pips better off on the day,

in the wake of the latest RBNZ MonPol decision. Although the OCR was left

unchanged at 1.75%, the bank said that the next move in its policy rate is

likely to be down, while also noting that "the balance of risks to the outlook

has shifted to the downside."

- On the technical front, as a result of the post-RBNZ kiwi weakness, the pair

managed to break above the down trendline from Jan 21 at NZ$1.0337, which had

been providing a layer of resistance for the last two months or so.

Consolidation above would allow bulls to look for a jump through the upper 1.0%

10-DMA envelope at NZ$1.0448, briefly breached overnight, towards NZ$1.0490,

where the rate peaked on two consecutive days of Feb 21 & 22. Meanwhile, a

pullback through the NZ$1.0300 figure would bring the aforementioned trendline

back into play.