NZD/USD has accelerated its move higher........>

KIWI: NZD/USD has accelerated its move higher after breaching the upper 1.0%

10-DMA envelope, which is now located at $0.6629. The rate last deals at

$0.6639, 21 pips better off.

- Solid trade data out of New Zealand supports the kiwi; headline trade balance

topped forecasts and underpinned by larger than exp. increases in both imports

and exports, with the latter swelling to record levels.

- Headlines re: the latest telephone conversation between top Chinese and U.S.

trade envoys might have also lent a degree of support to the rate.

- On the technical front, bullish focus turns to $0.6657, which represents the

38.2% fibo retracement of the slide from $0.6939 to the YtD low of $0.6482.

Above here brings the Jun 7 monthly high of $0.6682 into play. Bears look for a

retreat below the aforementioned upper 1.0% 10-DMA envelope.