NZD/USD faced some pressure in Tuesday's.......>

KIWI: NZD/USD faced some pressure in Tuesday's Asia-Pac session after Westpac

said they expect the RBNZ to cut the OCR to -0.5% in November. The rate

recovered in the European morning amid renewed USD sales and managed to stay

afloat through the rest of the day. The descending 50-DMA was rejected for the

second straight day and is becoming an important near-term resistance.

- A move through the 50-DMA at $0.6066 would shift bullish focus to Apr 14 high

of $0.6131. Bulls need a break here to regain control. Bears would be pleased by

a drop below Apr 23 trough at $0.5911, towards $0.5844, the low of Apr 3. The

rate sits +3 pips at $0.6059 as we type.

- New Zealand will report its trade data for the month of March shortly. Later

in the week, the focus turns to Thursday's ANZ Business Confidence & Friday's

ANZ Consumer Confidence.