NZD Down Against All G10 Currencies On Mixed Chinese Data, Higher US Yields

The Kiwi lower verse all G10 currencies. NZD & AUD are the two worst performing currencies today, as mixed Chinese data and China's loosening grip on the yuan impact them, while the market is pricing a 58% chance of a July Fed rate cut, down from 65% on Friday and the Fed's Daly reiterated that there is no rush to lower interest rates. which is supporting the USD.

• NZD/USD remains in a downward trend trading well below the 20, 50, 100 & 200-day EMA with the pair is trading back below 0.5900 at 0.5878 making new YtD lows and now looking to test 0.5864 (Nov 11 lows), while the 14-day RSI is now 31.5. Initial support is at 0.5864 (Nov 11 lows), a break here would open a move to 0.5776 (Yearly lows Oct 26). Initial resistant is at 0.5907 (Intraday highs), above here 0.5950 (Apr 15 highs).
• AUD/NZD briefly dipped back below 1.900 earlier, but the move was very quickly reversed. The cross trades unchanged today, although we have been making lower highs over the past 18 hrs, and have been unable to test the 1.0920 area on Tuesday. Initial support is 1.0900 (round number support), below here 1.0863 (Apr 15 low)
• NZD/JPY is lower today despite the Yen hitting decade lows and trading above 154.00 and the Japanese FinMin again warning the markets on excessive yen moves. The cross is down 0.39% today at 90.730 and now trades below both the 20 & 50-day EMA, while currently trading just above the 100-day at 90.57. The 14-day RSI indicator has been falling recently now trading at 45, while together with a decreasing MACD indicates the bullish trend and momentum could be slowing. Initial support is 90.57 (100-day EMA), while to the upside a break above 91.60 (Apr 16 highs) would open a retest of 92.00 (Apr 12 highs).
• (BBG) NZ Treasury Says Gloomy Business Mood Helps Ease Price Pressure (See link)
• Looking ahead, NZ CPI on Wednesday is the major focus.