New Zealand Dollar Breaks .7348 Support

We have remained bearish and rightly so as the Kiwi has also broken below the confluence of its weekly low / 20 day SMA. There is potential support from the 100% extension of .7484-.7348 / .7445 at .7309 (a level reinforced by the 4/10 high at .7413).

Short term resistance is at .7398 and the bearish case is strong below there.