NZD/USD: toppy, treading water ahead of nonfarm payrolls- ANZ

Analysts at ANZ noted that NZD/USD broke below 0.7250 briefly overnight but has bounced back well in the wake of the EUR/USD rally. 

Key Quotes:

"Our strategic view has not changed: NZD looks toppy given the shifting European/North American policy vibe, the sun going down on excess liquidity and as others catch up on economic metrics."

"But it is likely to tread water for the next 18 hours or so ahead of key US jobs data tonight."