NZD/USD – Rising trend line stands exposed

Despite pair’s rebound from 0.7235 (Sep 13 low), the subsequent exhaustion near 0.7335 (38.2% of 0.4891-0.8842) in the Asian session today and a retreat to 0.7308 suggests the pair could test support of rising trend line coming from May low to July low seen at 0.7230.

A day end close below 0.7230 could yield a sell-off to 0.7176 (38.2% of 0.6675-0.7485).