NZD/USD dragged back to neutral levels, as.....>

KIWI: NZD/USD dragged back to neutral levels, as AUD was pressured after NAB

hiked its variable mortgage rates by 12-16bp, citing an increase in funding

costs, with the move lower in AUD coming on the back of the RBA's perceived

reaction function owing to the wealth effect, which spilled across the Tasman,

limiting NZD.

- Rate last trades at $0.6787, after peaking at $0.6807, as the Antipodeans

outperformed in early Asia-Pacific trade, aided by a relatively strong AU labour

market report. Initial resistance noted at the Jan 9 high of $0.6809 and a break

above would bring into view the upper boundary of the 1.0% 10-DMA envelope at

$0.6850; On the downside, spotlight falls on the 100-DMA/50-DMA at $0.6796/95,

followed by yesterday's low of $0.6743.