Selling in the pair is keeping the kiwi bid on the day
The pair is trading at the lows for the day, as it looks for a firm break below the resistance-turned-support level from June last year.
That was a level that stemmed last week's fall but currently we're trading below it again. If the pair is able to find a daily close below that level, it will give sellers conviction to drive the pair lower towards the 1.0400 level.
So far, selling in the pair is what is helping the kiwi stay bid while the aussie lags behind - in terms of performance versus the dollar. And it's been a common theme this year for the aussie, as it struggles no matter what the market situation is.
