Nothing can separate Team New Zealand and Luna Rossa after two days of racing in Auckland ©Getty Images

This year’s America’s Cup remains finely balanced after the second day of racing with Team New Zealand and Luna Rossa locked at 2-2 in Auckland.

In a reversal to the opening day on March 10, it was Luna Rossa who edged ahead in the 13-race series before hosts Team New Zealand responded in superb fashion.

Luna Rossa claimed race three by 37 seconds after finishing in a time of 27min 18sec.

Team New Zealand then hit back to win race four by more than a minute - the biggest winning margin so far - after completing the course in 29:53.

Defending champions Team New Zealand went into the series as favourites but they continue to be tested by their Italian challengers.

However, Luna Rossa co-helmsman Jimmy Spithill insists his team remain as "underdogs".

"They have got a lot of supporters out there so I truly believe we are the underdogs," said Spithill.

"But we have shown that we can win races and that’s what is important.

"Looking at the score-line, it’s great news for the event and fans of both teams but we are taking on Team New Zealand at home so they are the favourites."

Luna Rossa co-helmsman Jimmy Spithill believes Team New Zealand remain favourites despite his side's strong start to this year's America's Cup ©Getty Images
Luna Rossa co-helmsman Jimmy Spithill believes Team New Zealand remain favourites despite his side's strong start to this year's America's Cup ©Getty Images

Team New Zealand helmsman Pete Burling believes "small margins" will decide the outcome of the competition.

"In the first race we felt there were a few small things that we did that really cost us," said Burling.

"We had to do three more manoeuvres on that second loop and a few little things didn’t go our way.

"But to then bounce back in the second race, get off to a good start and be strong throughout was pleasing for us as a group.

"It is definitely coming down to pretty small margins and we feel we are learning a lot all the time."

The opening weekend of racing in the America's Cup was postponed due to the enforcement of a COVID-19 lockdown in Auckland.

Competition had originally been scheduled to start on March 6.

It is due to conclude on March 15.

The winner will be the first team to score seven points.

Action continues tomorrow with two more races.