NZD/USD rotating around 0.7370

• Kiwi trades sideways in quiet markets
• Little encouragement in any direction ahead of London.

NZD.USD continues sideways through Tokyo, with volatility continuing to decrease as price stays close to the 0.7365 handle.

A lack of usable economic data for New Zealand makes for quiet markets, with the only glimmer of home field data being seasonally adjusted Building Permit numbers at 21:45 GMT. Market action for the pair through London/NY will no doubt come from knock-on market volatility as the US Dollar gets traded up or down against the broader markets, with US ISM Manufacturing and Prices reporting at 15:00, with the market-thumping NFP report dropping on Friday at 13:30.

NZD/USD Technicals

Price action traders will have noted the repeated inverted hammers formed this past Wednesday as well as the Wednesday before, signalling the potential for a reversal, while a neutral pennant is forming on intraday charts.

Today's pivot points:
R2: 0.7461
R1: 0.7409
PP: 0.7367
S1: 0.7315
S2:  0.7273