NZD/USD has struggled in recent trade as.......>

KIWI: NZD/USD has struggled in recent trade as risk off flows hit screens,

leaving the rate 10 pips or so softer at $0.6585 at writing, after once again

failing above $0.6600 on Friday. Initial support is located at Friday's low

($0.6524). Bulls will look to quickly reclaim the 50-DMA ($0.6589), before

targeting Friday's high ($0.6607).

- AUD/NZD closed below its 200-DMA on Friday, printing at the lowest levels seen

since June in the process, with AUD jittery ahead of a key by-election at the

weekend, which saw the incumbent Liberal Party lose a pivotal seat and its

narrow parliamentary majority. The independent candidate Kerryn Phelps defeated

her liberal rival effectively forcing PM Morrison into minority gov't. The rate

last deals at NZ$1.0770, after registering a low of NZ$1.0765 early on. Bears

now target the June 22 low (NZ$1.0711), followed by the figure (NZ$1.0700).

- NZ trade data, due Thursday, headlines the local docket this week.