Kiwi has come under pressure after the.........>

KIWI: Kiwi has come under pressure after the latest domestic ANZ business

confidence survey revealed that biz. confidence softened in March. The headline

index printed at -38.0 vs. the prior -30.9, while ANZ activity outlook fell to

6.3 from 10.5.

- NZD/USD last seen at $0.6783, 13 pips worse off. With the rate operating below

the lower 1.0% 10-DMA envelope at $0.6790, bearish attention is drawn to the

200-DMA at $0.6736. Conversely, a jump back onto the $0.6800 handle would allow

bulls to target the 100-DMA at $0.6812 and the 50-DMA at $0.6828, both breached

yesterday.

- AUD/NZD has added 9 pips and last trades at NZ$1.0430. A clean break above the

reaction high of NZ$1.0437 would bring the upper 1.0% 10-DMA envelope at

NZ$1.0454 into play. Meanwhile, bears look for a fall below the psychological

NZ$1.0400 level. Below here opens the down trendline from Jan 21 at NZ$1.0331,

also breached yesterday.