NZD/USD: leans bearish below monthly cloud base, eyes on 0.7030

• NZD/USD: traders await trade data, bird roubst in face of strong dollar.
• ND/USD: made a fresh low, remains below the cloud monthly base.

NZD/USD is steady in early Asia having been in a consolidative range overnight and relatively robust in the face of a strong dollar, having already lost plenty of ground this past week from 0.7395. Currently, NZD/USD is trading at 0.7062, up 0.01% on the day, having posted a daily high at 0.7065 and low at 0.7061.

NZD/USD touched 0.7056, which is the lowest since 28 December. However, the rage overnight was between there and 0.7095, easing back sharply to below the 10 and 21-hr smas for a close of 0.7061. US data underpinned the DXY on the 91 handle, despite a drop back in the benchmark below the 3.00% psychological level. US 10's ranged between 2.98%-3.03%. Looking ahead for today, the March trade data is a data risk.
US data beats expectations
Jobless claims for the week ended April 21 fell to 209,000, undercutting the consensus estimate of 230,000. Durable goods orders for March advanced 2.6%, versus 2.5% expected, while core capital orders for the same month bumped 0.1% higher, compared with 0.9% prior.The U.S. trade deficit narrowed to $68 billion in March, less than the $73.4 billion deficit expected.

NZD/USD levels

Technicals lean bearish after a new low was set with the RSIs biased down and with an inverted hammer on the monthly sticks with price changing hands below the monthly cloud base. The bears can target 0.7055 (low) and 0.7030. To the upside, 0.7150 guards 0.7185 resistance.