NZD/USD Technical Analysis: Support Now Below 0.73 Mark

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Talking Points:

• NZD/USD Technical Strategy:Short at 0.7783
• Support: 0.7275, 0.7130, 0.6951
• Resistance:0.7420, 0.7519, 0.7599

The New Zealand Dollar fell against its US namesake as expected, with sellers now eyeing support below the 0.73 figure. A daily close below the 50% Fibonacci expansion at 0.7275 exposes the 61.8% level at 0.7130. Alternatively, a move above the 38.2% Fib at 0.7420 opens the door for a challenge of channel floor support-turned-resistance at 0.7519.

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