NZD follows AUD lower, NZD/USD upside faltered at 0.6883, pair now pressing 0.6850 around 0.3% down intraday.
- 200-DMA at 0.6846 is immediate support, holding downside for now, low thus far 0.6847, breach below 200-DMA eyes 0.6825 area 28 Dec lows
- 0.6897 (Oct 15 highs) is strong resistance on the upside ahead of 0.6890 (rising trendline)
- An added element of profit taking seen into year-end after kiwi's 4.5% Dec rally, another negative for the pair
Techs on 4-hourlies point further downside:
-Stochs have rolled over from overbought zone
-RSI has edged lower from over 70 levels
-MACD line has crossed below the signal line
Recommendation: We would sell NZD/USD rallies around 0.6860, SL: 0.6900, TP1: 0.6825, TP2: 0.68
