NZD/USD has added 7 pips thus far and last.....>

KIWI: NZD/USD has added 7 pips thus far and last deals at $0.6855. This occurs

after the rate fell 20 pips Monday, with the kiwi initially outperforming in the

Asia-Pac session only to fall all the way to the bottom of the G10 pile later in

the day, as broader risk appetite was dented. 

- Bears look to yesterday's low of $0.6840 and a breach of that level would

bring the 21-DMA at $0.6821 into play. Conversely, a break above the upper 1.0%

10-DMA envelope at $0.6862 would allow bulls to attempt a move at $0.6894, which

capped gains yesterday. 

- The NZ economic calendar this week is rather empty, but any further

developments in Sino-U.S. trade relations will be closely watched. As a

reminder, China-U.S. negotiations resume in Washington this week.