NZD/USD Edges Higher, Feb House Sales Increase

NZD/USD is slightly higher after trying to break above the 0.6170 area twice during the Wednesday session only to be met with sellers, the pair finished the day up 0.11% at 0.6156. There was little in the way of US data, other than MBA mortgage applications at 7.1% vs 9.7% prior, while the BBDXY is down 0.10%

• Key levels to watch: Initial resistance at 0.6217 (Mar 8 high), a break above opens a move to the 0.6250 area (Jan 15 high). Initial support at 0.6136 (Mar 12 lows), below here, 0.6115 (200-day EMA).
• Option expiries, there are US$1.6760b of NZD/USD puts at a strike of 0.6161-0.6200 expiring between NY Cut on Mar 13th and March 15th.
• Earlier REINZ House Sales data was out coming in well above prior month at 37.9% vs 4.9% prior, while NZ net migration was 2,870 vs 10,310 revised up from 7,260 and NZ Jan Annual net immigration was 133,835
• Looking ahead, BusinessNZ Manufacturing PMI is due out tomorrow