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NZD/USD in a Bearish Continuation Breakout

The NZD/USD has been in a bit of a rebound since making a low on the year at 0.6466. The 4H chart shows the bullish correction to 0.6708 last week. However, the kiwi-greenback is starting this week retreating sharply. As we get into the 8/23 US session, we can see a break below a rising trendline.

NZD/USD 4H Chart 8/23

(click to enlarge)

Price is also cracking the cluster of 200-, 100-, and 50-period simple moving averages (SMAs). This breakout opens up the 0.6466 low. Also, if there is a pullback, a bearish market should hold resistance at or below the 0.6650 pivot, preferably even at 0.6625 pivot.A break above 0.6650 could revive the consolidation/correction mode, with the 0.67-0.6708 high in sight, and with risk towards the  next resistance pivot at 0.6738.