NZD/USD recovers from intraday low, good to sell on rallies

• RES4: 0.7497 (200 day HMA)
  
  
• RES3:0.7425 (23.6% retracement of 0.7740 and 0.7327)
  
  
• RES2: 0.7405 (55 day H EMA)
  
  
•  RES 1: 0.7380 (Support turned into resistance)

      PRICE: 0.7366@09:11 GMT 

• Sup1: 0.7315
  
  
• SUP2: 0.7274 (Mar 18^th low)
  
  
• SUP3: 0.7160 (Mar 11^th low)
  
  
• SUP4:0.0.694 (138.2% retracement of 0.71611 and 0.7739)

Commentary:

NZD/USD breaks major support 0.7380 and declined till 0.7327 level. Short term trend is till weak as long as support 0.7405 holds.

Intraday major support is around 0.7315 and further weakness can be seen below that level.

It is good to sell on rallies around 0.7380 with stop around 0.7435 for the target of 0.7320.