- NZD/USD fails to break below major trendline support at 0.7030 on Thursday's trade.
- The major hit highs of 0.7132 before edging lower to currently trade around 0.71 handle.
- Some upside left intraday, could see test of 23.6% Fibo of the recent fall from 0.7485 seen at 0.7140.
- Trend is still lower, break below trendline support at 0.7030 could see drag upto 0.6985 and then 0.6951 levels.
- Major support levels - 0.7030 (trendline), 0.70, 0.6970 (June 24 low), 0.6943 (200-DMA)
- Major resistance levels - 0.7094 (5-DMA, double top June 16 & Oct 12), 0.7148 (June 9 high), 0.7161 (100-DMA)
Recommendation: Good to sell break below 0.7030, SL: 0.71, TP: 0.70/ 0.6970/ 0.6940
