NZDUSD's run of pain continued on Thursday.....>

KIWI: NZDUSD's run of pain continued on Thursday as the cross lodged a 7th

consecutive daily loss, printing below 0.7100 for the first time since January.

NZDUSD last deals at 0.7075.

- It would seem that the recent sell off has resulted in the emergence of some

corporate demand, while some short-term indicators have moved into oversold

territory, although this wasn't enough to prevent an extension in terms of the

run of daily losses.

- The Bollinger base sits at 0.7073 and remains the key concern for bears who

now look for a close below the December 20 lows (0.6952). Layers of resistance

continue to build with bulls now needing a close above yesterday's hourly

support (0.7102) to gain breathing room.

- Friday's domestic trade data & US GDP provide the immediate focal points for

the cross.