NZD remains under pressure through AUDNZD......>

KIWI: NZD remains under pressure through AUDNZD cross flows. Both of the

Antipodean currencies were trading softer heading into Australian CPI, but the

ensuing bounce in the AUD (on the back of the slightly stronger than expected

core measures of inflation) has seen the AUDNZD print session highs of ~1.0680,

while NZDUSD last trades 20 pips or so softer at ~0.7125, but back from post

release lows of 0.7115.

- From a technical perspective NZDUSD's closes below the 200-DMA, 55 & 200-WMAs

are noted and the cross now trades below the 100-WMA (0.7145), with bears

needing a close below the high from January 02 (0.7130) to confirm traction.

Bulls now look for a close above Friday's low (0.7198) to gain breathing room.