NZD/USD is the day’s top performer, playing catch-up after the solid gains in the Australian dollar on Wednesday. The interesting things here is that the 50-hour moving average (green) is about to pass the 100-hour average (blue) suggesting that more bullishness could be in the cards. Lookout, however. The RSI at 67 is nearly at overbought levels (at or above 70).
As with the Aussie dollar, much of the day’s trading will revolve around positioning for nonfarm payrolls from the U.S. on Friday. These days, upbeat economic data for the U.S. strengthens the kiwi dollar, and vice-versa.