NZD/USD: triple top at 4hr 200 sma, downside under threat?

Currently, NZD/USD is trading at 0.7106, down -0.41% on the day, having posted a daily high at 0.7163 and low at 0.7094.

NZD/USD has been testing down through the 0.71 handle in the US session with further rejections at the 4hr 200 sma located at 0.7142. There has now been three attempts through this level and failure on a triple top with slippage to 0.7167. However, the upside support line remains intact, for now, but pending re-positioning around next week's FOMC and the potential of reflation in the US economy could shift the emphasis on the downside again in due course. Recent funda news came with the New Zealand GDT auction price index at 3.5% with the average price at $3622 mt vs $3519 prior, fourth consecutive rise.

NZD/USD levels

Current price is 0.7107, with resistance ahead at 0.7110 (Daily 20 SMA), 0.7114 (Weekly Classic PP), 0.7122 (Daily Classic PP), 0.7124 (Hourly 20 EMA) and 0.7136 (Daily Open). Next support to the downside can be found at 0.7103 (Hourly 100 SMA), 0.7094 (Daily Low), 0.7084 (Daily Classic S1), 0.7084 (Hourly 200 SMA) and 0.7081 (Weekly Low).