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The flightless bird opened in Asia at..........>

KIWI
KIWI: The flightless bird opened in Asia at $0.7279 at the low side of $0.7272
to $0.7335 range witnessed by European and US markets yesterday, where modest US
strength was the theme supported by firmer US rate yields. NZ's pre-election
economic and fiscal update (0000GMT) will be the main focus for investors. In a
morning note to clients, ANZ say, 'the starting point is likely to show an even
stronger fiscal picture than in the May Budget, with rising surpluses towards
2.5% of GDP and a declining profile for debt'. Support is located at $0.7267
(61.8% fib $0.7224-$0.7337 move), a break opens $0.7250 (76.4% fib on the same
move),  while hourly resistance is noted around $0.7300. Kiwi was last at
$0.7278

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