NZDUSD setting up a break of Feb 2010 trendline

The kiwi is once again testing 2010 support

As is the case with most things US dollar related, NZDUSD is feeling the heat as the US fundamentals take over

NZDUSD weekly chart

We're nudging through that line as I type and I want to see the break held before thinking about a move lower.

NZDUSD H4 chart

I'd also want to see the prior lows taken out around 0.7175/80 and 0.7160 before fully believing in a move south.. If we do then the March 2011 lows become a possibility

Looking closer the trend line is trying to hold as resistance now at 0.7117. If it does it may be worth testing with a short and tight stop on a break of 0.7130

NZDUSD 15m chart