Can NZDUSD Hold This?

NZDUSDH1 01.08.17

The New Zealand Dollar seems to be struggling to remain above the 0.7500-20 support against the US Dollar.
 
The NZDUSD pair is also finding it hard to stay above the 100 hourly simple moving average, and currently approaching a monster bullish trend line at 0.7485 on the hourly chart.
 
There were two failures recently near the 61.8% Fib retracement level of the last decline from the 0.7557 high to 0.7460 low at 0.7520. So, there is a chance of NZDUSD breaking the trend line support at 0.7485 in the near term. On the other hand, if there is no break, the pair could retest the 0.7520 level.

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