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NZD sits top of G10 at the European............>

KIWI
KIWI: NZD sits top of G10 at the European crossover, the pair consolidates the
recent break of its 100 & 200-dma's and will be looking to extend its winning
run into a seventh session out of the last nine. The move further cements the
strong seasonality trend in July for commodity tied FX over the last ten years,
as highlighted in an MNI POV - Commodity FX Strong July Seasonals - 0754BST.
- Friday's high provides the next area of resistance at $0.6791, a break opens a
move towards the $0.6800 double-top area.
- NZDJPY rallied for a seventh straight session and extended the uptrend through
Y73.00. This brings the 100-dma & May 7 high into view at Y73.36/40.
- AUDNZD touched pullback lows of NZ$1.0386, its lowest level since Mar 27.
Today's candle formation is an inverted hammer, normally found after a downtrend
and is a trend reversal signal.
- EURNZD extends the downtrend into a ninth consecutive session to NZ$1.6546.
Near-term support at NZ$1.6535/29 from the 76.4% retracement of the Mar-Jun
rally & Apr 3 low.
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