FxWirePro: NZD/USD breaks major support at 0.7250, good to go short on rallies

• NZD/USD breaks major support at 0.7250, intraday bias lower. 
   
• After a bearish gap open on Monday, the pair is extending downside.
   
• Decline in oil prices after bearish US rigs count report last week dented sentiment around the resourced-linked Kiwi.
   
• FOMC officials continue to remain hawkish over the prospects of a near-term rate hike, keeping a broad-based recovery in USD intact.
   
• Techincal indicators on daily charts support downside, RSI and Stochs are biased lower. 
   
• Pair finds immediate resistance at 0.7258 (5-DMA) and support at 0.72 (trendline and psychological level).
   
• Below 0.72, next major support lies at 0.7183 (20-DMA), violation there could see downside upto 0.7110 (trendline).
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Recommendation: Good to short NZD/USD rallies around 0.7215/20, SL: 0.7260, TP: 0.7183/ 0.7110.