FxWirePro: NZD/USD slips along 20-DMA resistance, bias lower

• 20-DMA weighs on NZD/USD upside, pair extending lower as it slides along falling 20-DMA resistance currently at 0.7152.
   
• Bid tone behind the NZD keeps growing bigger as we head into the European session.
   
• Broad-based US dollar correction after the recent upsurge also lends support.
   
• Profit booking in USD longs seen as markets await highly influential US GDP report due later in the NA session. 
   
• Technical indicators remain bearish, scope for test of 0.7080 (trendline and 50% Fib).
   
• Major support levels - 0.7109 (Double bottom - Oct 7, 25), 0.7080 (trendline & 50% Fib), 0.7034 (Oct 13 low)
   
• Major resistance levels - 0.7143 (5-DMA), 0.7152 (20-DMA), 0.7175 (38.2% Fib), 0.7191 (100-DMA)
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Recommendation: Good to go short on rallies around 0.7145/50, SL: 0.7220, TP: 0.71/ 0.7080/ 0.7035