NZD/USD continues to drop following Chinese import boom

• Kiwi falling against the Dollar again.
• Chinese trade data sent NZD down, USD up.

NZD/USD is down further in Asia following Chinese trade data, touching 0.7180 and is currently retracing into the 0.7190 region as of writing.

NZD/USD is trading lower following the release of Chinese trade data that showed a huge expansion in China's import volumes, which took even more wind out of the NZD's already-slack sails. The pair is now trading into four-week lows, and off 1.8% from its recent 0.7436 high. 

NZD/USD Technicals

The pair is deep off its recent bull run on H4 charts, and Daily charts show NZD/USD trading down passed the 34 EMA's support, with the 200-day SMA close by at 0.7140. 

Today's pivot points:
R2: 0.7399
R1: 0.7317
PP: 0.7263
S1: 0.7181
S2: 0.7127