Kiwi extended its series of lower highs........>

KIWI: Kiwi extended its series of lower highs overnight with added weight from

soft China activity data and weaker equities. NZDUSD touched $0.6563, its lowest

levels since May 8 and remains in its short-term down trend channel. (See MNI

Analysis email - Short-term Trend Channel - May 14). The 76.4% retracement of

the Oct-Dec 2018 rise provides the next support area, below here opens recent

cycle lows at $0.6527, ahead of channel base support at $0.6475.

- NZDJPY dipped back under the Y72.00 level with downside focus on the May 13

low at Y71.62. Having previously triggered a death cross (50-dma below 200-dma),

the 50-dma is primed to trade below the 100-dma and chart a triple crossover,

giving more weight to the bearish outlook.

- EURNZD holds in the middle of its trend channel, printing overnight highs of

NZ$1.7079. Double-top resistance is seen at NZ$1.7105/15, a break opens the May

8 high at NZ$1.7153, ahead of the channel top at NZ$1.7259.