- NZD/USD was rejected at channel top at 0.7275, hovers around 5-DMA at 0.7223.
- The pair is consolidating weak New Zealand GDP led slump, is trading slightly higher on the day.
- An up-tick in Business NZ Manufacturing Index likely prompted some short-covering move.
- Technical indicators have turned slightly bearish, we see rollover on RSI and Stochs from overbought levels.
- 20-DMA is still biased higher, we see major reversal only on break below 20-DMA currently at 0.7132.
Support levels - 0.72, 0.7151 (50% Fib of 0.7485 to 0.6817 fall), 0.7132 (20-DMA)
Resistance levels - 0.7224 (5-DMA), 0.7230 (61.8% Fib), 0.7270 (Channel top), 0.73, 0.7342 (78.6% Fib)
Call update: We had advised a short in our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-extends-post-FOMC-slide-Kiwi-dumped-on-New-Zealand-GDP-miss-757176).
Recommendation: Bias lower, hold for downside. Bearish invalidation above channel top at 0.7270
FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at -48.4964 (Neutral), while Hourly USD Spot Index was at 3.59034 (Neutral) at 0715 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


AUDJPY Range Play: Hold 102.95 Support, Target 105 on Breakout
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
FxWirePro: EUR/AUD moves higher following downbeat Australian jobs report
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/NZD shows upside momentum, but bearish outlook remains
FxWirePro: USD/CAD outlook weaker on renewed downside pressure
FxWirePro: GBP/AUD recovers slightly but bears are not done yet
FxWirePro- Woodies Pivot(Major)
FxWirePro: GBP/NZD ticks down after UK GDP data disappoints
UK GDP Flops Again: GBPJPY Drops to 207.22 But Bulls Hold the Line – Buy the Dip to 210?
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major European Indices
FxWirePro- Major European Indices
Sterling Crushed by Double-Contraction GDP – EURGBP Spikes, Next Stop 0.8850–0.8900
NZDJPY Poised to Pop: Buy-the-Dip Setup Above Key 90 Support
FxWirePro: USD/CAD recovers slightly but trend is still bearish
FxWirePro: GBP/AUD gives up early gains after UK GDP shock 



