FxWirePro: NZD/USD breaks below 100-DMA support, good to sell rallies

• NZD/USD breaks below 100-DMA at 0.7147 to hit fresh 4-week lows of 0.7125, intraday bias lower.
   
• Kiwi extends weakness after market pricing for a Nov OCR cut has eased after upbeat NZ business confidence data.
   
• Markets await US non-farm-payroll figures for further momentum. 
   
• The lead indicators - PMI employment sub-indices, US consumer confidence, jobless claims – all point to a possibility of an upbeat NFP figure.
   
• Technicals are bearish, we see scope for further downside, test of 0.7086 levels likely.
   
• Major support levels - 0.7086 (Aug 8 lows), 0.70, 0.6969 (June 16 and 24 low), 0.6951 (July 21 low)
   
• Major resistance levels - 0.7147 (100-DMA), 0.7190 (5-DMA), 0.72, 0.7235 (trendline)
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Reommendation: Good to sell rallies around 0.7150, SL: 0.7235, TP: 0.7086/ 0.70/ 0.6969