NZD/USD Technical Analysis: Turns lower for the fourth straight session, bears eyeing a break below 100-DMA support

   •  The pair failed to capitalize on the early attempted bounce and has now drifted into the negative territory for the fourth consecutive session, back closer to 2-1/2 week lows set on Friday.

   •  The pair’s inability to sustain intraday move beyond 100-day EMA, coupled with the bearish tone for the sixth session in the previous seven clearly points to persistent selling bias at higher levels.

   •  Bearish technical indicators on hourly/daily charts support prospects for an extension of the recent bearish trajectory, which will be further reinforced once the 100-day SMA support is broken.

   •  Weakness below the mentioned support might turn the pair vulnerable to break through the 0.6700 handle and aim towards testing 2019 daily closing lows support, around the 0.6655 region.

NZD/USD daily chart