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 support at 0.7045.
The pair has recovered slightly from lows and is currently trading around 0.7067, formation seen on till now.
Intraday bias is lower, momentum studies are , break below 0.7045 will darg the pair lower.
Supports are seen at 0.7045 ( ), 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).
Good to sell rallies around 0.7080/85, SL: 0.7170, TP: 0.7020/ 0.70/ 0.6970