FxWirePro: NZD/USD holds above 50-day MA at 0.7225, good to go short on break below

• Kiwi under pressure after the dismal New Zealand trade data release.
   
• New Zealand trade balance in August fell to -$1265M m/m, below forecasts at -$765.5m.
   
• NZD/USD is trading a narrow range, but holds above 50-day MA at 0.7225.
   
• Techs on intraday charts are bearish, break below 50-DMA at 0.7225 could drag the pair lower to 100-DMA at 0.7106.
   
• Major support levels - 0.7225 (50-DMA), 0.7106 (100-DMA), 0.7086 (Aug 8 low)
   
• Major resistance levels - 0.7275 (trendline), 0.7284 (10-DMA), 0.73, 0.7305 (20-DMA)
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Recommendation: Good to go short on break below 0.7225, SL: 0.73, TP: 0.7165/ 0.7110/ 0.7086