FxWirePro: NZD/USD unable to extend gains beyond 0.6559, strong resistance zone, good to short rallies

0.6559 is strong resistance levels and NZD/USD has been rejected at those levels, has edged lower and is currently trading at 0.6521.

• Techs on 4-hourly charts show scope for further downside, Stochs have rolled over from overbought levels with a bearish crossover and RSI points south.
   
• The pair has been trending sideways, price action remains below 200-DMA and daily cloud.
   
• Watchout for GDT dairy auction (Tue), Q4 labour market data, with the unemployment rate (Wed) and US payrolls (Fri) which have the potential to surprise NZD/USD in both directions.
   
• Immediate resistance on the upside is seen at 0.6559, while support on the downside is located at 0.6490 (5-DMA).
   
• Breaks above 0.6560 can take the pair to 0.66 and then 0.6640 levels

Recommendation: Good to go short on rallies around 0.6525/30, SL: 0.6570, TP: 0.6450