• NZD/USD consolidation ends, new low set, bear pennant forming since last week sees break lower
  
  
• Bigger losses likely after pennant break but Fed risk looms, long-term bears eye May 2010 low 
  
  
• If Fed dovish today's slide might erode & bull reversal signs might emerge
  
  
• 0.6890/00 support for now, channel base & 0.6900 bids a bear hurdle
  
  
• Beyond there 0.6840/50 & July '10 low are next supports