Continued rout in base metals, especially copper weighing on commodity currencies like the NZD today.
- NZD/USD opened Asia 0.6559, extended to 0.6561 top before continuing to slip lower now through 0.6515 5-DMA support to 0.6502 base
- Resistance is located at 0.6546 (cloud base) ahead of 0.6606 (38.2 % Fibo Oct 15th - Nov 18th fall)
- Strong support seen at 0.6500, 0.6488 61.8% Fib retrace of Sep/Oct rally is next support below
Recommendation: We recommend going short on breaks below 0.6500, SL: 0.6570, TP: 0.6428, TP2: 0.6385
