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

KIWI
KIWI: NZD/USD has dropped 7 pips thus far and last sits at $0.6725 after falling
11 pips yesterday, as kiwi came under pressure from renewed worries re: global
trade. 
- No apparent reaction noted upon the release of NZ Dec services PMI, which saw
the index slow to 53.0 from 53.4. 
- Bears need to clear yesterday's low/1.0% 10-DMA envelope at $0.6714/10 before
shifting focus to the psychological $0.6700 level, followed by the 100-DMA at
$0.6692. On the topside, bulls need a move above yesterday's preak at $0.6764
before challenging the 200-DMA at $0.6775, ahead of the 50-DMA at $0.6796. 
- NZ focus this week turns to domestic CPI figures due tomorrow. Any
developments in Sino-U.S. trade relations will also be of interest.

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