NZDUSD has managed to print marginal session...>

KIWI: NZDUSD has managed to print marginal session lows of 0.7073 in the wake of

the softer ANZ business survey, and last trades at 0.7075.

- ANZ noted that "both headline business confidence and firms' views of their

own activity dipped in April. The construction sector fell sharply despite

perceived easing in credit availability. Key activity indicators fell, but

capacity utilisation increased, especially for retail and services. Pricing

indicators eased - retail sector pricing intentions fell sharply to their lowest

level since 2004."

- Focus falls on Wednesday's NZ quarterly labour market report, which could

garner more attention than usual after a labour market mandate was added to the

RBNZ's latest PTA when Adrian Orr assumed the role of Governor in late March.

- Bears are focused on the Dec 20 low (0.6952), although Friday's lack of follow

through on 2018 lows (0.7037) is a concern. Layers of resistance continue to

build with bulls now needing a close above hourly support from April 25 (0.7102)

to gain breathing room.