AUD/NZD is back below 1.29 and NZD/USD is at .7125 after a few sessions of fairly furious NZD short covering. We saw from the speculative positioning data earlier in the week that the market was already quite short the Kiwi and obviously not all that comfortable with the position, judging by the short-covering rush. Technical resistance in the NZD/USD is quite firm between .7150/75 and support in the AUD/NZD is at 1.2850 (38.2% 1.2410/1.3120)