AUD/NZD last trades at NZ$1.0443, 23....>

AUSSIE-KIWI: AUD/NZD last trades at NZ$1.0443, 23 pips better off, as weaker

than exp. The ANZ NZ business confidence print has sent kiwi to the bottom of

the G10 pile. ANZ noted that "recent improvement in business activity indicators

out of the ANZ Business Outlook survey stalled in February. Business confidence

fell 7 points, while firms' views of their own activity eased 3 points. Activity

indicators generally ticked down. Export intentions fell to the weakest since

March 2009. Pricing intentions remain range-bound. Expected availability of

credit dropped sharply."

- The rate dropped 13 pips yesterday, with both sides of the pair weighed on by

the congressional testimony of USTR Lighthizer, who noted that U.S.-China trade

issues "are too serious to be resolved with promises of additional purchases."

- Initial resistance noted at NZ$1.0456, which represents the 21-DMA, followed

by NZ$1.0490, which capped gains for two consecutive days, on Feb 21 & 22.

Conversely, bears need a fall through yesterday's low of NZ$1.0414 before

challenging NZ$1.0390, where the pair bottomed on Tuesday.