The RBNZ managed to put a lid on the recent....>

KIWI: The RBNZ managed to put a lid on the recent appreciation in NZD with their

Wednesday's MonPol decision. Some dovish overtones in their language coupled

with an explicit sense of worry about a stronger NZD weighed on the kiwi.

Broader defensive feel (eyes were on the global coronavirus situation) and

softer oil prices dented commodity FX, which amplified pressure to NZD.

- NZD/USD last trades flat at $0.6409. Bearish focus falls on Jun 22 low of

$0.6377 and a fall below there would open up the 200-DMA/23.6% retracement of

the Mar 19 - Jun 10 rally at $0.6324/21. Meanwhile, a jump above Jun 23 high of

$0.6533 would bring Jun 9 multi-month high of $0.6580 into play.

- New Zealand's trade balance will be released within half an hour or so, while

ANZ Consumer Confidence comes out on Friday.