NZD/USD Technical Analysis: Finds some support near 100-DMA/ascending trend-line confluence region

   •  The pair extended this week's rejection slide from the 0.6900 handle and remained under some heavy bearish pressure for the third consecutive session.

   •  The overnight slide below 200-hour SMA confirmed a bearish double-top reversal chart pattern and the downfall accelerated further after RBNZ's rate cut hint.

NZD/USD 1-hourly chart

   •  The pair dropped to test 100-day SMA support, albeit slightly oversold conditions on the 1-hourly chart turned out to be the only factor helping limit deeper losses.

   •  Meanwhile, oscillators on the daily chart have just started gaining negative momentum and seemed to suggest an extension of the recent downward trajectory.

   •  Sustained weakness below the mentioned support, coinciding with near five-month-old ascending trend-line would pave the way for further depreciating move.

Daily chart