NZD/USD: 0.74 achievable before the 10-D SMA gives out?

• NZD/USD: taking out the rising 10-D SMA? Where next? 
• NZD/USD: a fickle dollar and commodities offering support to the bird. 

NZD/USD has been tugged and pulled by flows in the greenback making for a fickle display in the DXY.  Various trade headlines have been flowing around simmering trade war angst and Fed speakers have been laying the foundations for future rates hikes. 

NZD/USD started out the US session around 0.7340 and was pressured by a strong dollar to kick off the shift that took out the European session low to mark territory towards 0.7320, at 0.7326 and a few pips below the 10-d SMA at 0.7329. 

Kiwi supported by commodities 

The DXY struggled at 89.50 and commodities got a break. the Kiwi followed suit of the dollar weakness and bounce in commodities and rallied to a session high of 0.7344, underpinned by the milk auction results, (GDT PI +2.7% & WMP +0.9%), where the bird flew above the 200-H SMA. The greenback had already picked up another bid to 89.66 the high and the Kiwi consolidated late in the day between 44 and the 10-hr SMA at 0.7337.

NZD/USD levels

NZD/USD is looking for space on the 0.74 handle while supported by the rising 4hr-50 SMA in a correction of the 0.7370 sell-off. the first hurdle will be the congestion between there and 0.7350. Daily technicals, however, remain bearish with the RSI biased down and penetration of the rising 10-D SMA. Of the same note, the monthly technicals are also leaning bullish.