Forex Trading: NZDUSD update for the day

The NZDUSD closed last night below the 100 day moving average which comes in at the 0.7665 level.  This is the first close below the level since January 21st.  At that time it stayed below for one day and bounced higher.   On the downside, there is support at the 0.7567 level, the bottom of the channel (see chart). 

Tonight the NZ Retail Sales report for the month of March will be released.  The expectation is for a decline of 0.4% for the headline and 0.4% ex Auto.    In addition Business PMI will also be released.  Last month the index fell below 50 for the first time since January 2006.