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***In an analysis email last week we....>

AUSSIE-KIWI: ***In an analysis email last week we highlighted that AUDNZD was
forming a falling wedge pattern, a bullish reversal(See MNI email AUDNZD Falling
Wedge - Mar 28 1254BST).
- Indeed, AUDNZD breached this level and closed above the 100-dma (NZ$1.0490)
for the first time since Oct 12. The topside break of NZ$1.0500 triggered
renewed demand from momentum-type accounts with the rally extending to
- Momentum indicators continue to generate a bullish technical picture.
Seasonality trends have seen AUDNZD higher in April, four of the last five
- Goldman Sachs recently updated their AUDNZD view. They note AU-NZ yields
spreads should move higher over the next month, lifting the cross to around
NZ$1.0600. GS are targeting a move towards NZ$1.09.

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