G10 kiwi crosses nosedived in the wake of......>

KIWI: G10 kiwi crosses nosedived in the wake of the latest RBNZ MonPol decision.

The Bank maintained its OCR unchanged at 1.75%, but altered its policy guidance

and now expects the next rate move to be down.

- Elsewhere, the RBNZ noted that "the balance of risks to this outlook has

shifted to the downside," pointing to soft domestic biz. sentiment, as well as

deteriorating global environment.

- The Bank also noted weakening econ outlooks amongst NZ's key trading partners,

including Australia, Europe, and China, which encouraged respective "central

banks to ease their expected MonPol stances, placing upward pressure on NZD."

- NZD/USD has cratered ~90 pips and last trades at $0.6819. The next technical

support below noted at the 100-DMA at $0.6812, followed by the psychological

$0.6800 level. Conversely, bulls look for a return above the 50-DMA at $0.6828.

- AUD/NZD last trades at NZ$1.0431, 100 pips better off. Bulls eye the nearby

50-DMA at NZ$1.0436 and a clean break above would open up the 1.0% 10-DMA

envelope at NZ$1.0448. Meanwhile, bears look for a pullback through the

NZ$1.0400 figure.