• New Zealand's dairy giant Fonterra announced a payout forecast cut and also new measures to support NZ dairy industry
  
  
• Kiwi swiftly recovered from a dip to session lows following the news, trades modestly flat at 0.6554 after falls to session lows by 0.6528
  
  
• Upside however remains capped on the back of a broadly higher US dollar ahead of the key NFP data due later in the US session
  
  
• NZD/USD is currently trading at 0.6557, next resistance is located at 0.6566 levels and above which it could extend gains 0.6608 (21-Day MA)
  
  
• To the downside immediate support might be located at 0.6509 (Daily Low Aug 6) and then at 0.6490 (2015 Low Aug 5)
  
  

Resistance Levels:

R1: 0.6566 (Daily High Aug 5)

R2: 0.6589 (10-Day MA)

R3: 0.6608 (21-Day MA)

Support Levels:

S1: 0.6509 (Daily Low Aug 6)

S2: 0.6490 (2015 Low Aug 5)

S3: 0.6470 (Daily Low Jul 30 2009)