FxWirePro: NZD/USD hovers around 0.70 handle, intraday bias higher

• Data released earlier today showed a drop in the trade surplus. 
   
• Fall in exports underscores weakness in the economy and only adds to the bets of RBNZ rate cut in August.
   
• NZD/USD has largely ignored weak trade data and extended gains.
   
• Upside is holding above 0.70 handle, finds stiff resistance by 50-DMA at 0.7014.
   
• Break above will see next major hurdle at 0.7078 (10-DMA).
   
• Strong support seen at 0.6955 (trendline), weakness only on break below.
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Recommendation: Good to go long on break above 0.7014, SL: 0.6985, TP: 0.7075