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NZD/USD - Key support is in the 0.6750-0.6775 area

NZD/USD is in a sharp retreat after choppily rallying to 0.7050. The 4H chart shows the dip to 0.6840 after price tagged 0.7050. 

NZD/USD 4H Chart 4/25

(click to enlarge)

Now, even if NZD/USD has found a resistance to stay for a while, we should still respect the prevailing uptrend. 

If price approaches the 0.6750-0.6775 area, we should anticipate some buying interest. This area involves a rising channel support and a common support/resistance pivot zone. If price stalls, and/or there is a bullish divergence in the 4H chart, we should anticipate a bullish attempt back to the 0.6840-0.6850 area, with a more aggressive anticipation towards the 0.6950 common resistance area. 

If price breaks 0.6750, which could be the case if the FOMC sounds hawkish this week, then, NZD/USD would open up the 0.6550-0.66 support/resistance pivot zone. Below that, the 0.6345 low on the year would come into play with risk of extending lower considering that the trend before the channel in the 4H chart has been bearish since mid-2014.