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

KIWI
KIWI: NZD/USD's topside gains were limited on Monday, with the rate holding
toward the lower end of its daily range for the majority of the session, with
the same holding true in early dealing on Tuesday as modest USD strength,
followed by post-RBA AUD/NZD strength capped the cross, last ~$0.6600, after
registering a low of $0.6586.
- Bears look for a close under $0.6600 to keep the recent downtrend intact, with
an eye on the YtD low ($0.6545).
- 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$1.0945. 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.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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