Aussie has had some decent data recently with the latest RBA minutes suggesting a firm "on hold" policy cycle for the near future. RBNZ has recently raised rates and a lot of this has been priced in. Even though NZD is fundamentall in a better position, this is a tactical long based this pair being near multi year lows, with risk slightly to the upside.
CAVEAT! The NZD gdp is tlater this afternoon... If this comes in much higher then expected we will see more downside... however I think this risk is fairly limited, and a gdp comin in at concensus of 0.9% would see this pair go up .