Last week's RBA rate cut hasn't only impacted Aussie but has also contributed to the reversal in Kiwi. Overnight talk of additional macroprudential measures by the RBNZ to stem house price rises has been seen as laying ground for further rate cuts.

The pair fell more than 300 pips since last Tuesday, breaking below 50 DMA in the process. Some demand will definitely come in ahead of 100 DMA and 200 DMA but it may take a decline to August 2015 - January 2016 trendline before sentiment turns again.

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