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Dragged Away From Highs On Wider Cheapening

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

KIWI: The flightless bird opened in Asia at the upper side of the $0.6932 to
$0.7028 range witnessed yesterday, where weaker than expected US inflation data
and a FOMC that was deemed on the dovish side, placed the greenback on the
defensive. There is no domestic data to influence direction, but cross flow
(aussie-kiwi) is likely following the Aussie jobs data. Interestingly, the rally
has stopped just shy of decent resistance, $0.7030/37 marks the 38.2% fib
retracement on the $0.7433 to $0.6781 decline and Oct20 high, a break would
target a move to $0.7107 (50% fib on the same move), while hourly support is
seen around $0.6980. Kiwi was last at $0.7024.

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