- NZD/USD under pressure in the Asian session so far, unable to sustain the post-Brexit recovery above 0.71 handle.
- Poor Chinese data and a major Yuan devaluation weigh on the Kiwi, while oil benchmarks trading moderately lower offer no support.
- NZD/USD sharply lower from fresh session highs of 0.7114, finds minor trendline support at 0.7045.
- The pair has recovered slightly from lows and is currently trading around 0.7067, Doji formation seen on daily chart till now.
- Intraday bias is lower, momentum studies are bearish, break below 0.7045 will drag the pair lower.
- Supports are seen at 0.7045 (trendline), 0.7020 (20-DMA), and then 0.6970 (June 24th low).
- Resistance is located at 0.71, 0.7114 (session high) and then 0.7123 (June 10th high).
Recommendation: Good to sell rallies around 0.7075/80, SL: 0.7170, TP: 0.7020/ 0.70/ 0.6970
