The NZD/USD could test 0.8380 in local trading after a quiet overnight session, ANZ Senior Dealer Alex Sinton says in a note. "Supply issues for buyers are accentuating the moves as underlying demand remains unsatisfied at this point," he says.

The NZD/USD is at 0.8332. Sinton puts support for the pair around 0.8300 as markets potentially look to the topside again. "Local NZ December migration data is unlikely to add further fuel to the fire as markets look to offshore PMI services releases this afternoon and evening," he says.

While supportive comments by EU authorities seem to be deflecting market attention from Portugal, the situation in Greece remains precarious, he says. He expects the pair to trade between 0.8310 and 0.8380 Friday.