The pair’s under pressure again today on EUR/NZD and AUD/NZD buying, despite a rise in Fonterra dairy prices and a narrowing C/A deficit. Month end flows being cited by some analysts along with profit taking after recent highs of 0.8477.

NZD/USD triggered some stops in Asia down through 0.8385 (tenkan line 0.8386) to a low of 0.8378, but has so far lacked any further momentum .

There’s some bids now from the lows running down to 0.8350, with tech support down at 0.8335/40 ( lows of Dec 11) ahead of exporter bids 0.8300/20 with sell stops set on a break. Offers now start from 0.8410/20 and again just ahead of 0.8440.

Market is now eyeing tomorrow’s Q3 GDP which is expected at 0.4% q/q from 0.6% in Q2

NZD/USD currently trading around 0.8395