•NZD/USD extends downside for 2nd consecutive session, breaks 100-DMA support at 0.7235 and testing the trend line support at 0.7200.
•Medium term trend negative in NZD/USD, given that the political uncertainty lasts regarding the formation of a new Government.
•Support levels - 0.7200 (trend line), 0.7175 and 0.7140 (200-DMA)
•Resistance levels - 0.7235 (100 DMA), 0.7260 & 0.7300
•Recommendation: Good to sell on rallies around 0.7260 with SL at 0.7300 and TP at 0.7200