Much as we wrote yesterday, further consolidation in the New Zealand Dollar/US Dollar pair leaves little directional bias for upcoming trade, as the pair trades almost exactly at the middle of its recent price channel. Overall momentum favors further NZD/USD declines, but the lack of conviction in recent price action suggests that the pair may continue to consolidate until further notice. Noteworthy support for the NZD/USD comes in at previous lows of 0.5186. Resistance comes in at weekly highs of 0.5754. Much like we see in the AUD/USD, there exists a fairly clear bullish divergence in fresh price lows and comparatively bullish oscillators.