NZD/USD Technical Analysis: Slips below 200-DMA to confirm a near-term bearish breakdown

   •  The pair continued losing ground through the early North-American session and dropped to fresh seven-week lows, further below the very important 200-day SMA in the last hour.

   •  Given that the pair this week finally broke below an ascending trend-line support extending from early-Oct., the subsequent weakness now confirms a near-term bearish breakdown.

   •  Meanwhile, oscillators on daily/4-hourly charts have been gaining negative momentum and are still far from being in the oversold territory, paving way for further depreciating move.

   •  However, slightly oversold conditions on the 1-hourly chart might turn out to be the only factor that could lend some support, or help limit further downside, at least for the time being.

NZD/USD daily chart