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Despite the NZ 10y falling to record lows of...>

KIWI
KIWI: Despite the NZ 10y falling to record lows of 2.08% amid the backdrop of
dovish RBNZ expectations, NZDUSD extends its recovery off the Asia low ($0.6730)
to $0.6761 at the European crossover. The rate closed below its 200-dma
yesterday, while bears will be looking to extend the downtrend through the
100-dma at $0.6724. Bulls need to recover the 55-dma at $0.6802 to stabilise the
outlook, opening a move toward $0.6836 which represents the 50% retracement of
$0.6942-0.6730.   

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