Looks to me as if the market was in base-picking mode for last few days and now we are seeing their confidence tested. The RBNZ didn’t say or do anything unexpected by my reading, but with rate rises in the offing for next year, it’s not hard to put a bullish-NZD spin on things. The market is currently testing recent lows at 1.0945/50.
I still like the idea of putting a silly bid in somewhere (1.08 ish perhaps?) and then sitting back and waiting for a short-squeeze back toward more neutral long-term levels at 1.15.