FxWirePro: 0.6425 strong support for NZD/USD, breaks below could test 0.6240 levels

We see a strong trendline support for NZD/USD at 0.6428 levels, weakness will be seen if pair breaks below.

• Weakness in oil exposes the downside in the kiwi, NZD/USD hit session lows at 0.6456, before paring some losses to currently trade around 0.6487 levels.
   
• The positive China's trade balance surplus surprise proved to be short-lived, negative sentiment around the global stocks continues, Asian indices down to multi-month lows, rattles investors' confidence.
   
• Sentiment across global equities will continue to dominate ahead of the US datasets, including the weekly unemployment claims and import prices index.
   
• Immediate resistance for NZD/USD is at 0.6524 (5-DMA), while support on the downside lies at 0.6452 (Nov 17th lows) and then 0.6425 (trendline joining 0.6437, 0.6428).
   

Recommendation: Good to go short NZD/USD on breaks below 0.6425, SL: 0.6525, TP: 0.6260