Was just curious Joe...I finally read the notes from RBNZ and it appears to me they have the strongest economy of any nation whose currencies we trade...nothing in the statement seemed at all dovish..they didnt even whine about exchange rate..for a change(LOL)..as far a chart goes the nearest SUPDEM demand zone is at about .7750 on daily and weekly but if they continue this selling like today I seriously doubt any dump below .79 mark so new zones are likely to show long before then..JMO of course. Another factor is that its the euro against kiwi thats caused this steady dump ..not the USD the way I see it and EUR/NZD is well overextended to the topside and has already printed a bearish harmonic and dipped 82 pips from todays peak.A continuation of E/NZD to downside would pull N/U back up...IOW it would take a bullish continuation of E/N which is overextended for kiwi to go much deeper in the toilet. I can certainly be wrong but I see N/Us trading today as a typical friday unwinding of positions...have seen it countless times on most pairs on fridays and is often followed by a big gap up on sunday.As we always say..time will tell.
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