• Bid tone around the Kiwi strengthening after upbeat New Zealand inflation expectations data.
   
• Latest data released by the RBNZ on Tuesday revealed a minor increase in the inflation expectations. 
   
• NZD/USD is attempting a break above 0.7182 (61.8% of 0.7325-0.6951 fall). 
   
• Break above finds next major resistance at 0.7214 (trendline) and then 0.7245 (78.6% Fib).
   
• Support on the downside is seen at  0.7138 (50% Fib), 0.7136 (20-DMA) and then 0.7119 (22 June low).
   
• Later in the day, Fonterra GlobalDairyTrade (GDT) price auction could influence price action in the pair. 
   
• A drop in milk prices would increase RBNZ easing bets weighing negatively for the pair.