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NZD/USD shorts tightened after RBNZ on hold

Thursday, March 12, 2015 9:17 AM UTC

0.7408 = six-day high for NZD/USD after more shorts covered
Short-covering encouraged by neutral tone from RBNZ
NZD/USD retreated to 0.7191 into 2000GMT RBNZ statement
0.7191 was Wednesday's 5week low (0.7611 = Mar 4 high)
0.7422 (Feb 24 low) & 0.7454 (Mar 5 low) resistance beyond 0.7408

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NZD/USD shorts tightened after RBNZ on hold

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