 New Zealand Dollar drops broadly today following RBNZ's decision to nearly double the QE program, and indicates its openness to negative rates. Australian Dollar is following as a distant second weakest. The sharp decline in US stocks overnight doesn't carry forward to Asian markets. Other major currencies are relatively mixed, with Canadian and sterling as the stronger ones, followed by Dollar. The greenback was somewhat supported by Fed officials' comments against negative interest rates. Fed chair Jerome Powell will have a chance to clarify his stance today. Technically, AUD/NZD's break of 1.0748 resistance suggests resumption of rebound from 0.9994. Further rise would be seen to 1.0865 resistance next. NZD/USD is eyeing 0.5994 support and break will indicate completion of corrective rebound from 0.5469. Deeper fall would then be seen back to retest this low. Similarly, NZD/JPY is heading back to 63.55 support. Break will also indicate completion of corrective rebound from 59.49 and bring retest of this low (more on NZD/USD and NZD/JPY). It remains to be seen if weakness in Kiwi would eventually drag down the Aussie too. Sterling pairs are also worth a watch today. EUR/GBP is now eyeing 0.8863 resistance with today's rebound. Firm break there will confirming short term bottoming at 0.8670 and bring rebound to 0.8987 fibonacci level. GBP/USD is also eyeing 1.2247 support. Decisive break there will indicate near term reversal, with a double top pattern (1.2647, 1.2645). Deeper fall could be seen back to retest 1.1409 low. In Asia, currently, Nikkei is down -0.47%. Hong Kong HSI is up 0.01%. China Shanghai SSE is down -0.18%. Singapore Strait Times is down -0.40%. Japan 10-year JGB yield is up 0.0036 at -0.002. Overnight, DOW dropped -1.89%. S&P 500 dropped -2.05%. NASDAQ dropped -2.06%. 10-year yield dropped -0.048 to 0.678. | 
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