NZD/USD last $0.6874, ~25 pips away from.......>

KIWI: NZD/USD last $0.6874, ~25 pips away from session lows, having struggled

overnight on the back of broader risk aversion triggered by Canada's detention

of Huawei CFO with the U.S. seeking her extradition. 

- Worth noting that Fonterra revised its 2018/19 forecast Farmgate Milk Price

range from $6.25-$6.50 per kgMS to $6.00-$6.30 per kgMS, many expected a

downgrade at today's announcement. 

- Bears eye the 200-DMA at $0.6859 and a fall through that level would open up

the 21-DMA at $0.6825. On the upside, initial focus falls on yesterday's highs

of $0.6944. A break above would allow bulls to target Tuesday's highs of

$0.6970. 

- NZ docket for the remainder of this week is virtually empty, but broader risk

themes remain a factor to watch.