NZD bounced from the pre-RBNZ lows as New......>

KIWI: NZD bounced from the pre-RBNZ lows as New Zealand's central bank left its

OCR unchanged at 1.0%, in line with expectations. Lack of outright commitments

to impending easing seems to have caused the upswing. Per the accompanying

commentary, members agreed that developments since the August MPS didn't

significantly change the outlook, but also noted scope for more fiscal and

monetary stimulus, if necessary.

- NZD/USD last deals at $0.6339, 14 pips higher on the day. Following a break

above yesterday's high of $0.6332, bulls target the 21-DMA at $0.6351.

- AUD/NZD has shed 39 pips, last trades at NZ$1.0716. The rate is testing the

NZ$1.0709-05 zone, which registered several intraday highs earlier this month.

It is located just above the 23.6% retracement of the Aug 6-Sep 20 rally at

NZ$1.0704. A clean break below there would open the lower 1.0% 10-DMA envelope

at NZ$1.0667.