• NZD/USD breaks major wedge base support at 0.6720 and closes lower in Tuesday's trade at 0.6703.
  
  
• The pair is down on the day at fresh five-week lows, currently trading at 0.6654 in the Asian session, battered for a third day today.
  
  
• The bearish pressure on the Kiwi mounting as weak Chinese data and drop in the dairy prices continue to dampen the sentiment.
  
  
• Technicals point south: 5&10-DMAs show bearish crossover, break and close below strong support at 0.6720, MACD line crosses below signal line, RSI is at 43 and points south, Stochs sharply lower.
  
  
• Also, on the weekly charts, Stochs have rolled-over from overbought zone with a bearish crossover and RSI has dipped below 50 levels after brief spike above and points south. 

Recommendation: Good to sell rallies around 0.6660, SL: 0.6720, TP: 0.6610/0.66/0.6580

Resistance Levels:

R1: 0.6708 (Session high Jan 6)

R2: 0.6720 (Wedge base)

R3: 0.6754 (5-DMA)

Support Levels:

S1: 0.6632 (session lows Jan 6)

S2: 0.6611 (Dec 7 lows)

S3: 0.6682 (cloud top)