NZD outperformed most of its G10...............>

KIWI: NZD outperformed most of its G10 counterparts on Thursday, with AUDNZD's

brief foray below 1.0500 adding to NZD demand. NZDUSD last trades at 0.7380,

while AUDNZD trades at 1.0520.

- NZDUSD's recovery from the April 06 low (0.7241) has resulted in focus

returning to 2018 highs (0.7438). The Bollinger top (0.7383) is the key concern

for bulls. Bears need a close below the high from April 06 (0.7324) to ease

bullish pressure.

- 2018 & 9mth AUDNZD lows continue as immediate bearish focus remains on the

long term rising daily trend line off 2015 lows (at 1.0468 today). Follow

through remains lacking courtesy of the Bollinger base (1.0483) which held on

Thursday's probe lower. Bulls now look for a close above the April 09 high

(1.0561) to gain breathing room and above the 21-DMA (1.0608) to shift initial

focus higher.

- Traders look to next weeks domestic CPI release as the major risk event for

the NZD.