NZD/USD last deals at $0.6824, a touch lower...>

KIWI: NZD/USD last deals at $0.6824, a touch lower on the day, after dropping a

couple of pips on the back of the release of Australian NAB Business Survey, as

AUD/USD weakness applied some pressure. NZD/USD fell 9 pips yesterday, as

broader risk-off flows played out. 

- Muted reaction noted upon the release of NZ trade balance in early Asia-Pac

hours, with New Zealand registering a wider than exp. trade surplus in December.

- Worth noting the latest WSJ piece re: the upcoming Sino-U.S. trade talks

pointed to a lack of progress on some of the key matters surrounding the talks.

- Bears keep an eye on the Jan 15 low of $0.6800 and a move through that level

would allow them to target the 55-DMA/50-DMA at $0.6797/94, followed by the

21-DMA/200-DMA at $0.6768/65. Conversely, initial topside focus falls on the

upper 1.0% 10-DMA envelope at $0.6849, ahead of yesterday's peak at $0.6872. 

- NZ economic docket is rather thin during the remainder of this week, but focus

will fall on the top-level Sino-U.S. trade talks commencing Wednesday.