NZDUSD has been underperforming in the past days, drifting lower from the five-month high of 0.6968 and below the 20- and 40-simple moving averages in the 4-hour chart. In the short term, technical indicarors point to more weakness, with the RSI dropping to bearish territory below 50 and the MACD losing further ground below the trigger line. In case of further declines, immediate support could come from the 23.6% Fibonacci retracement level of the upward move from 0.6423 to 0.6968, around 0.6840. If the sellers manage to push below that hurdle, that could mark a drop towards the 0.6815 region, identified by the highs ... (full story)