Kiwi broke below February low at 0.7176 yesterday and traded down to 0.7129, to the lowest in four years. Weaker than expected ANZ Business Confidence overnight didn't help it and the pair is hanging above the lows.

March 2011 low at 0.7113 is the first big level to watch before 0.70 big figure level and 38.2% retracement (of the 2011 to 2011 uptrend) near 0.6950.

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