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Despite improved NZ Retail Sales overnight,....>

KIWI: Despite improved NZ Retail Sales overnight, NZDUSD breached the key $0.65
level after Bloomberg headlines reported that the US is weighing the
blacklisting of up to 5 Chinese Surveillance firms. The downtrend extends into
Europe with the rate touching multi-month lows of $0.6494. Traders are reminded
of the recent death cross formation (50-dma below 200-dma) with next support
seen at $0.6483/65 from the lower bound of the 1.0% 10-dma MAE envelope & Oct 26
2018 low. Further support is located at $0.6442/46 from the Oct 10-11 2018 lows.
- NZDJPY touched pullback lows of Y71.71 with key support from the double-bottom
Y71.50/55 area. Technically the outlook remains bearish with the triple
crossover, 50-dma trading below 100 & 200-dma's.
- EURNZD rallied to NZ$1.7175, before stalling ahead of resistance from
yesterday's high (NZ$1.7178). Expect further resistance behind on approach to
the NZ$1.72 level, ahead of the Jan 3 ytd high at NZ$1.7249.    

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