Kiwi falls below $0.66 marks, more downside likely

• Pair fell 0.63% to $0.6584 on Tuesday from $0.6624 at the close of trade in New York on Monday.
   
• It made intraday high at $0.6627 and $0.6575 levels.
   
• Commodity currencies are more affected by falling oil prices. WTI futures slipped 0.10% to $30.10 per barrel and Brent crude future contacts dropped 0.42% to $33.03 a barrel.
   
• Intraday outlook remain bearish for the moment.
   
• Overall trend remain bearish below the $0.6658 levels. A sustainable break of this resistance levels will drag the parity towards $0.6724 levels.
   
• 10D EMA has already crossed the 25D and 50D EMA, which supports the bearish trend.
   
• Major support levels are seen at $0.6559, $0.6526 and $0.6492 levels.
   
• Resistance levels are seen at $0.6658, $0.6691 and $0.6724 levels.

We prefer to take short position in NZD/USD around $0.66 marks, stop loss $0.6658 and target $0.6492 levels.