Kiwi dropped sharply overnight after Q1 CPI....>

KIWI: Kiwi dropped sharply overnight after Q1 CPI came in under expectations.

NZDUSD touched pullback lows of $0.6668, before the strong China GDP release

pared gains. Rate squeezed back above the 200-dma ($0.6733) with the recovery

extending to $0.6745/50 at typing. The 50% retracement of April range has so far

capped the topside at $0.6753, expect further resistance behind through

$0.6800/10 ($0.6806 - 100-dma). 

- AUDNZD surged through NZ$1.07, before topping out at NZ$1.0732, its highest

levels since mid-November. Further enhancing MNI Analysis emails AUDNZD -

Falling Wedge - Mar 28 & AUDNZD Bullish Break - Apr 5. The pair has since dipped

back toward NZ$1.0670 at typing. The 61.8% retracement of the Aug 2018 - Jan

2019 fall comes in today at NZ$1.0767, the level also holds a series of highs

through November.

- NZDJPY touched pullback lows of Y74.67, but has since recovered the 100 &

200-dma's to Y75.54.