Renewed US-China trade rhetoric dented risk....>

KIWI: Renewed US-China trade rhetoric dented risk appetite overnight with NZDUSD

slipping to fresh multi-month lows of $0.6484. Recovery efforts have so far held

shallow and keeps the recent downtrend intact. Near-term support is seen at

$0.6465 from the Oct 26 low, below here opens the double-bottom support area at

$0.6425/30. Further support is located at the psychological $0.64 level, with a

break here likely accelerating the move toward $0.6372 which represents the

long-term 50% retracement of the Dec 2000 low-Sep 2011 high. 

- NZDJPY dipped to Y71.41, its lowest levels since early Jan. Expect support on

approach to Y71.00, ahead of the 76.4% retracement of the Jan-Mar rise at

Y70.95.

- EURNZD topped out at NZ$1.7197, before meeting the reported supply on approach

to NZ$1.7200. Last NZ$1.7171.