FxWirePro: NZD/USD breaches channel base support, eyes 88.6% Fib at 0.6486

NZD/USD chart - Trading View 

• NZD/USD is trading 0.11% lower on the day at 0.6556 at 0720 GMT, bias lower.
   
• The pair has breached channel base support at 0.6565, scope for further downside.
   
• Technical studies are bearish. Stochs and RSI are sharply lower. 5-DMA is downward biased and caps upside.
   
• Breach below channel base has opened up further downside. Next major support lies at 78.6% Fib at 0.6541.
   
• On the flipside, break above 5-DMA will see gains till 21-EMA at 0.6624. 

Support levels - 0.6541 (78.6% Fib), 0.6486 (88.6% Fib), 0.6470 (Trendline)

Resistance levels - 0.6573 (5-DMA), 0.66, 0.6624 (21-EMA)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.