 New Zealand Dollar tumbles broadly today as weighed down by double-whammy of RBNZ QE expansion and return to lockdown. The selloff in Kiwi is somewhat dragging down Aussie and Canadian too. On the other hand, Dollar is staging a strong rebound, with help from much steeper than expected correction in Gold price. The strong rebound is 10-year yield also helps Euro and Sterling are so far resilient, with the latter supported by slightly better than expected June GDP figure. Technically, no support was seen from Gold from 38.2% retracement of 1670.66 to 2075.18 at 1872.92. Focus is back on 1936.93 minor resistance and break will suggest stabilization and bring stronger rebound. Though, another selloff would push gold to 61.8% retracement at 1825.18. USD/JPY's break of 106.47 suggests resumption of rise form 104.18. More importantly, it reaffirms the case that corrective decline form 111.71 has completed at 104.18. Further rise should be seen to 108.16 next. An important thing to note is that Dollar is still limited below near term structure resistance against all other major currencies. These level need to be taken out to confirm a sustainable rebound - 1.1695 support in EUR/USD. 1.2982 support in GBP/USD. 0.7076 support in AUD/USD. 0.9241 resistance in USD/CHF, and 1.3459 resistance in USD/CAD. In Asia, Nikkei closed up 0.41%. Hong Kong HSI is up 0.96%. China Shanghai SSE is down -0.69%. Singapore Strait Times is up 0.47%. Japan 10-year JGB yield is up 0.0116 at 0.045. Overnight, DOW dropped -0.38%. S&P 500 dropped -0.80%. NASDAQ dropped -1.69%. 10-year yield rose 0.084 to 0.658. | 
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