FxWirePro: NZD/USD holds 50% Fib support at 0.6916, bias lower, stay short

• Kiwi under pressure from divergent monetary policy outlooks between the Fed and RBNZ.
   
• NZD/USD extends downside for 5th consecutive session. 
   
• Bearish bias in the pair intact after breach of 200-DMA.
   
• The pair is currently holding support by 50% Fib at 0.6916, break below finds next immediate support at 0.6892 (June 7 lows).
   
• On the flipside, breakout above 200-DMA at 0.7069 invalidates bearish bias.
   
• Support levels - 0.6916 (50% Fib of 0.6347 to 0.74854 rally), 0.6892 (June 7 low), 0.68, 0.6781 (61.8% Fib)
   
• Resistance levels - 0.70, 0.7050 (38.2% Fib), 0.6994 (5-DMA), 0.7069 (200-DMA)
   
• Our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-holds-minor-support-at-06955-break-below-will-see-further-downside-456760) has hit TP1
   

Recommendation: Book partial profits. Hold for downside.
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FxWirePro's Hourly NZD Spot Index was at -85.7571 (Bearish), while Hourly USD Spot Index was at 47.42 (Neutral) at 0440 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.