NZD/USD is down by 0.6% on the day to its lowest levels since 18 January
The pair is dragged down to a session low of 0.7117 now as risk aversion strikes across the market in what looks to be another bloodbath of a day to start European trading.
Sellers are in near-term control upon the break below the key hourly moving averages yesterday and that looks to call into question key support from the 18 January lows closer to the 0.7100 handle.
Of note, the pair is also looking to contest a break below key trendline support from the 21 December to 18 January lows @ 0.7133 currently. A firm break below 0.7100 though leaves little in the way of a potential retest of 0.7000 moving forward.
