NZDUSD has fallen afoul of the broader USD.....>

KIWI: NZDUSD has fallen afoul of the broader USD strength, to trade 10 pips

lower at 0.6960, registering a low of 0.6953. However, the kiwi has outperformed

its Antipodean cousin, with the AUDNZD cross last dealing 15 pips lower at

1.0680.

- Immediate focus is on tomorrow's RBNZ MonPol decision, the first to be chaired

by Gov. Orr. No change is expected but close attention will be paid to the

statement for any tweaks in language following the adoption of the new PTA. The

RBNZ has noted that it will use a new statement format. 

- NZDUSD made fresh 2018 & 5-month lows on Tuesday (0.6951), adding weight to

the case for a move lower, with focus on 0.6799-0.6815 where the November &

December 2017 lows are situated, however, the correcting oversold studies remain

the key concern for bears. Bulls now need a close above the May 02 low (0.6983).

- AUDNZD bulls continue to take comfort in support emerging on dips back towards

the 55-DMA (1.0662), with bears continuing to look for a close below the level.

While the 55-DMA supports, bulls hold the advantage with focus currently on

1.0762-1.0894 where key DMAs, WMAs and the bear channel top are situated.