NZD/USD Technical Analysis: Set-up favors an extension of the bearish slide towards 0.6800 mark

   •  The pair extended the overnight retracement slide from 1-1/2 week tops and remained under some selling pressure through the mid-European session on Tuesday. 

   •  The pair's inability to sustain above 50-hour SMA/23.6% Fibo. level of the 0.6720-0.6894 post-RBNZ upsurge was seen as a key trigger for intraday bearish traders.

   •  Meanwhile, technical indicators on the 1-hourly chart have been drifting into bearish territory and have also started losing positive momentum on 4-hourly/daily charts.

   •  A subsequent break below 38.2% Fibo. level sets the stage of an extension of the corrective slide further towards testing 200-hour SMA support, near the 0.6800 handle.

NZD/USD 1-hourly chart