NZD/USD TECHS: NZD/USD is trading below major trend line support, decline till 0.7430 is possible

• RES4: 0.7658 (Cloud top)
  
  
• RES3:0.7573 (200 day 4 HMA)
  
  
• RES2: 0.7556 (200 day 4 HMA)
  
  
• RES 1: 0.7526 (7 day 4H EMA)    
  
  PRICE: 0.7500 @10:42 GMT 
  
  
•  SUP 1: 0.7507 (May 1^st low)
  
  
•  SUP 2: 0.7474 (Bollinger band bottom)
  
  
•  SUP 3:0.7435 (Apr 14^th low)
  
  
•  SUP 4: 0.7380 (61.8% retracement of 0.7160 and 0.7735)

Commentary:

NZD/USD has broken short term trend line support 0.753 and this confirms short-term bearishness a decline till 0.7430 cannot be ruled out. Overall trend is still bullish as long as resistance 0.7575 holds.

On the downside minor support is around 0.7475 and break below drag the pair further down till 0.7435.

It is good to sell on rallies around 0.7530 with stop around 0.7575 for the target of 0.7435.