• NZD/USD likely to consolidate into RBNZ due to lack of bear follow through today
  
  
• No major US data to drive USD side of equation so consolidation due
  
  
• 10-DMA capped recently, may repeat, above 0.72 eases short-term bear pressure
  
  
• RSIs need to unwind oversold & market gives less than 50% chance of RBNZ cut
  
  
• If RBNZ cuts bears will charge and May 2010 low then targeted