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

KIWI
KIWI: The flightless bird opened in Asia at $0.7202 toward the lower side of the
$0.7189 to $0.7278 range witnessed yesterday, where stronger-than-expected US
data underpinned the greenback. ANZ Business Confidence (0100GMT) provides a
modest event risk for the session. Key support seen at $0.7188, the level marks
the 50% retracement on the $0.6818 to $0.7558 rise, a break opens $0.7101 (61.8%
on the same move). Traders have also noted a head-and-shoulders pattern on the
daily charts and will be confirmed after a valid breakdown below the right hand
shoulder support near $0.7185, which may lead further technical selling.
Topside, resistance is noted at $0.7223 (38.2% $0.7278-$0.7189 decline). Kiwi
was last at $0.7202.

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