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The NZD has started the week on the............>

KIWI: The NZD has started the week on the backfoot, with the AUDNZD last trading
at 1.0767 in front of the 200-WMA at 1.0771, if that level breaks the next short
term level in focus is likely to be 1.0780, which represents hourly resistance
from Feb 14.
- From a technical perspective the lack of follow through on 2018 AUDNZD lows
combined with correcting O/S studies is less than ideal for bears who are
focused on NZ$1.0458-91 where the LT rising TL is located.
- Looking at the NZDUSD, immediate focus is set to fall on the daily bull
channel base at 0.7270. Technicals suggest that bears will have taken comfort in
the aggressive sell-off on Friday and close below the 21-DMA. Bears now need a
close below the daily bull channel base to shift focus back to $0.7130-0.7211
where 55 & 200-DMAs are situated. Bulls now look for a close above the 21-DMA to
gain breathing room and above $0.7438 2018 highs to target 2017 highs ($0.7558).
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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