With New Zealand's Q2 CPI data expected at.....>

KIWI: With New Zealand's Q2 CPI data expected at 23:45 BST, NZD/USD trades flat

at $0.6718 at present.

- The pair advanced 26 pips on Monday touching the best levels since mid-April,

with the move underpinned by solid Chinese macroeconomic data, which revealed a

slower but relatively healthy GDP growth and firmer than expected retail sales &

industrial output. The 200-DMA gave way in the process, but the upper 1.0%

10-DMA envelope proved hard to overcome.

- Bulls initially look to the latter level, which today comes in at $0.6736. A

rally above the figure would support their case and open up $0.6764, which

represents the 61.8% fibo retracement of the $0.6939-$0.6482 slide. Conversely,

a fall below the 200-DMA at $0.6717 would expose the psychological $0.6700

barrier. Below brings the 100-DMA at $0.6678 into view.

- The results of the bi-weekly GDT auction, due in the London afternoon, will

provide interest. No more NZ data releases/speeches are on this week's docket.