NZD/USD slips to a low of 0.6644 on the session

NZD/USD H1 26-07

The move lower comes as the pair is extending decline since overnight trading after having seen price stall around the 61.8 retracement level @ 0.6653. Sellers remain in near-term control and are pushing price lower now as the dollar holds more firm on the day.

The greenback is seen extending to session highs against the swissie, loonie and aussie as well currently. Looking at the bigger picture for NZD/USD:

NZD/USD D1 26-07

Sellers are continuing to build further momentum to the downside, extending a break below the 100-day MA (red line) as well as falling back below the broken trendline resistance (then turned support).

As such, be wary of further downside potential back towards the 0.6600 handle with the key risk event today being the advance US Q2 GDP data release at 1230 GMT.