FxWirePro: NZD/USD intraday bias lower, good to short rallies, target 0.6951

• NZD/USD unable to hold gains above 200-DMA, slips lower to break below 61.8% Fib level.
   
• The pair has pared some losses to edge higher from session lows at 0.6971, bias lower.
   
• Technical studies point to downside on the day. RSI, Stochs and MACD are biased lower.
   
• Major support levels - 0.6984 (61.8% Fib), 0.6951 (July 21 low & weekly 50-SMA), 0.69
   
• Major resistance levels - 0.70, 0.7025 (5-DMA), 0.7032 (200-DMA)0.7080 (50% Fib)
   

Recommendation: Good to go short on rallies around 0.70, SL: 0.7050, TP: 0.6951/ 0.69/ 0.6875/ 0.6850
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FxWirePro's Hourly NZD Spot Index was at 17.3947 (Neutral), while Hourly USD Spot Index was at 27.3979 (Neutral) at 0620 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex