FxWirePro: NZD/USD pauses downside at 200-DMA support, focus on NFP data for further impetus

NZD/USD chart on Trading View used for analysis 

• NZD/USD pauses downside at 200-DMA support, break below to see further weakness.
   
• The pair has retraced from highs at 0.6969 hit on Dec 4th. Doji formation at highs keeps scope for downside.
   
• RSI and Stochs have turned lower. Upside remains capped at 5-DMA. 
   
• Markets eye U.S. Non-farm payrolls report later today at 13:30 GMT.
   
• Non-farm payrolls are expected to rise by 205,000 in November, down from the prior month's exceptional 250,000.  
   
• The unemployment rate is predicted to remain at 3.7% and annual average hourly earnings to have increased 3 % last month as in October.
   
• Upbeat data could put a strong bid under the US dollar, hence adding to downside pressure on the pair.
   
• Break below 200-DMA could see downside till 110-EMA at 0.6741. Further weakness only on break below.
   
• Bounce off 200-DMA negates bearish bias. Resumption of upside and test of 0.6969 then likely.

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