[NZD/USD]

[NZD/USD] succumbed to light profit taking after reaching an intraday high around the 0.5930 level. A European and Asian name were notable sellers from around the 0.5920/25 level bringing the pair to an intraday low around the 0.5890 level. Japanese accounts selling of the Nzd/Jpy from around the 59.40 level to below the 59.00 level also contributed to the slight weakness in the NZD/USD. However, like its Aussie cousin, light bids at 0.5880 by investor types and more at 0.5870 will provide good support for the pair. We are also buyers on dips towards the 0.5860 level for a test of the 0.6000 handle over coming sessions.