- Broad-based USD strength after hawkish Fed comments keeps NZD/USD subdued.
- Data released earlier today showed unemployment rate fell to 5.1% and PPI rose 0.9% q/q versus expected 0.5% rise.
- Kiwi largely muted to data, failed to extend upside, was rejected at highs by 0.7322 and has slipped below the 0.73 handle.
- Major trendline support is seen at 0.7190, break below will find next major support by 50-DMA at 0.7135.
- Focus now on FOMC meeting minutes, later during NY trading session, which would determine further direction.
Recommendation: Good to go short break below 0.7190, target 0.7135/ 0.7085
