FxWirePro: NZD/USD downside halts at 61.8% Fib at 0.6985, break below to see further drag

• NZD/USD bounces off 61.8% Fib support at 0.6985, break below to see further drag.
   
• We see downside bias in the pair intact, Techs support further weakness.
   
• The pair has broken and closed below major 200-DMA support at 0.7024 on Friday's trade.
   
• We see bearish invalidation only on close above 200-DMA currently at 0.7025.
   
• On the flipside, break below 61.8% Fib at 0.6985 will see drag upto 0.6951 and then 0.69 levels
   
• Major support levels - 0.6985 (61.8% Fib), 0.6951 (July 21 low), 0.69 (June 6 low)
   
• Major resistance levels - 0.7025 (200-DMA), 0.7043 (5-DMA), 0.7080 (50% Fib)
   
• Our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-hovers-around-200-DMA-good-to-go-short-on-close-below-409848) is progressing.
   

Recommendation: Hold for targets
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FxWirePro's Hourly NZD Spot Index was at -111.442 (Highly bearish), while Hourly USD Spot Index was at 61.8482 (Neutral) at 0700 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex