•Today morning NZD/USD opened with a bearish gap and edged lower to 0.7250 due to New Zealand election results which provided no clear victory and increased political uncertainties.
•The pair is now trading around 0.7271.
•Support around 20-DMA at 0.7250 prevented further downside in the morning. Break below this level finds next immediate support at 0.7232 [100-DMA] and trend line support around 0.7205.
Support levels - 0.7250 (20-DMA), 0.7232 (100-DMA) and 0.7205 (trend line).
Resistance levels - 0.7335, 0.7365 and 0.7435.
Recommendation: Good to stay neutral due to political uncertainty regarding the formation of new Government.