• NZ GDT price index data unimpressive, fails to support the kiwi. 
   
• NZD/USD pares losses, edges higher from session lows at 0.7278, hovers around 0.73 handle.
   
• Higher oil prices and a broadly weaker US dollar lending support yo the pair.
   
• Major trendline support lies at 0.7265, weakness seen only on break below.
   
• Focus now on Fed and RBNZ policy meets for further direction.
   
• Markets have priced in OCR on hold at 2.0%, with a signal of a rate cut in November. 
   
• Any watering down of this explicit easing signal could likely cause a sharp rise in the NZD.
   
• Techs do not provide a clear directional bias, decisive breakout above 20-DMA could see bullishness.