NZD/USD has slipped in early Asia-Pac trade,...>

KIWI: NZD/USD has slipped in early Asia-Pac trade, last sits -6 pips at $0.6669.

No drivers apparent in the way of most recent news flow.

- Friday's trough at $0.6644 provides the initial bearish target and a break

here would open up the 23.6% retracement of the Oct 1 - Dec 31 bull mkt at

$0.6626. A jump above the $0.6700 mark would open up the Dec 31 high of $0.6756.

Worth keeping an eye on the 50-DMA, which threatens to cross above the 200-DMA.

- To recap, the rate started Monday on a softer note as mkts absorbed weekend

developments in the Mideast situation. It failed to test Friday's low of $0.6644

though and recovered into the European morning amid a sell-off in USD, inspired

by crude futures shedding their earlier gains, positive surprises in EZ & UK PMI

data, and second thoughts on U.S.-Iran tensions. NZD/USD ebbed off highs

thereafter, but recovered the bulk of its corrective pullback into the close.

- NZ data releases this week include QV house prices (Wednesday) and ANZ

commodity price index (Thursday). Thursday's release of China's inflation data

will provide some interest. Also, there is a GDT auction coming up on Tuesday,

in the London afternoon.