NZD/USD is trading near major support 0.7420, decline till 0.7380 is possible

• RES4: 0.7620 (61.8% retracement of 0.7742 and 0.7420)
  
  
• RES3:0.7536 (200 day  HMA)
  
  
• RES2: 0.7500(May 8^th high)
  
  
•  RES 1: 0.7435 (Kijun-Sen)

      PRICE: 0.7382 @08:47 GMT 

• SUP 1: 0.7380 (61.8% retracement of 0.7160 and 0.7735)
  
  
• Sup2: 0.7315
  
  
• SUP3: 0.7274 (Mar 18^th low)
  
  
• SUP4: 0.7160 (Mar 11^th low)

Commentary:

NZD/USD breaks major support 0.7380 and confirms short term weakness ,a decline till 0.7315 cannot be ruled out.

Intraday trend is weak as long as support 0.7435 holds.

It is good to sell on rallies around 0.7480 with stop around 0.7530 for the target of 0.7380.