NZD/USD's topside gains were limited on........>

KIWI: NZD/USD's topside gains were limited on Monday, with the rate holding

toward the lower end of its $0.6594-0.6624 daily range for the majority of the

session, last $0.6605.

- Bears look for a close under $0.6600 to keep the recent downtrend intact,

opening the YtD low ($0.6545). Below here opens a move toward the $0.6500 level,

ahead of the January 20 2016 low ($0.6348).

- AUD/NZD's failure to breach the 200-DMA (NZ$1.0842) added weight to the kiwi

on Monday, with the Antipodean cross last NZ$1.0910. Bulls need a close above

the NZ$1.0955/60 area to alter the short-term outlook, before making an attempt

at the August 24 high & 21-DMA (NZ$1.0987/89).

- The NZ docket is limited this week.