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Short

NZDUSD bias lower, short rallies for 0.7020

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
144 0 6
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 darg 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).

Good to sell rallies around 0.7080/85, SL: 0.7170, TP: 0.7020/ 0.70/ 0.6970
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