• NZD/USD upside stalls shy of the 0.79 handle, the pair was rejected at day's highs by 0.6892.
   
• Inverted hammer formation evidenced at highs, pair has edged lower to test strong trendline support at 0.6868.
   
• We see weakness on breaks below, test of 0.6850 then likely. However, trend for the day is higher.
   
• The pair is holding above 10-DMA support at 0.6847, momentum studies on dailies support upside.
   
• Data released earlier today showed that NZ house sales volumes in seasonally adjusted terms grew 4.7% m/m last month, as compared with the rise of 4.3% sa in Feb. 


• But for the first quarter, the house sales volumes declined 2.8% due to major decline in January.
   
• Low inflation backdrop gives the RBNZ scope to further lower OCR; however, the central bank will be cautious regarding the possible housing market impacts, noted ANZ research in a report.
   
• Daily Techs are inconclusive, we prefer to remain on the sidelines for now.