NZD/USD Technical Analysis: fresh bearish breakdown opens room for a retest of Nov. 2017 lows

   •  Disappointing ANZ business confidence index, falling to a seven-month low, adds to overnight weakness below an important horizontal support near the 0.6860 region.

   •  A subsequent slide through last Thursday's swing low confirms a fresh bearish breakdown and thus, paves the way for a test of November 2017 lows, around the 0.6780 region. 

   •  The remains well below short/medium/long-term moving averages and with short-term technical indicators still far from being in oversold territory further reinforce the negative outlook.

NZD/USD daily chart

Spot Rate: 0.6820
Daily Low: 0.6811
Daily High: 0.6860
Trend: Bearish 

Resistance
R1:  0.6860 (important support break-point)
R2:  0.6893 (R1 daily pivot-point)
R3:  0.6922 (weekly tops)

Support
S1:  0.6800 (round figure mark)
S2:  0.6781 (S3 daily pivot-point)
S3:  0.6760 (June 2016 swing low)