The New Zealand dollar has completely fallen apart, and at this point in time, it looks like we are heading towards the 0.56 level. The New Zealand dollar, of course, is going to continue to be weaker than the Aussie dollar as the New Zealand dollar is backed by a much more dovish central bank than Australia. They both tend to move in the same direction, but at this point in time, as long as there is US dollar strength, there will be problems with the kiwi dollar. That being said, the 0.56 level is an area that was a major swing low, so we may be getting pretty close to the end here.

USD/JPY Technical Analysis