NZD/USD Price Analysis: Extends 100-DMA breakdown towards 0.6985

NZD/USD takes affords to refresh month-to-month low, down for the fourth consecutive day.
11-week-old horizontal support, 61.8% Fibonacci retracement stage on the bear’s radar.
NZD/USD stays supplied for the fourth day in a row, clean month-to-month low round 0.6995 for the duration of early Friday.

In doing so, the kiwi pair extends the draw back smash of the 100-DMA and 50% retracement of August-October upside amid bearish MACD signals.

That being said, the NZD/USD expenditures are en-route to the 61.8% Fibonacci (Fibo.) close to 0.6965. However, a horizontal line comprising more than one stages in view that August 25, round 0.6985 may also project the immediately declines.

Should the quote drop under 0.6965, a three-month-old ascending style line near 0.6915 will be crucial.

Alternatively, a clear upside damage of the 100-DMA stage of 0.7025 will intention for the November 5 low of 0.7072 and the 0.7100 threshold.

However, September’s top surrounding 0.7170 and the 0.7200 spherical parent will check the NZD/USD bulls afterward.

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