The Reuters smart estimate (see table) suggests a little bit of downside risk for the NZD this morning.
AUD/NZD is in a 200-pip holding range (as usual), this time between 1.0450/1.0650 and we will need to see a clean break outside of this to create momentum in either direction.
NZD/USD has also been stuck in a sideways range for the last 4 months, broadly between .7650/.7950, and we are likely to see a breakout there very soon as well.
