FxWirePro: AUD/JPY depressed at trendline resistance, outlook bullish as long as pair holds above cloud
FxWirePro: AUD/NZD finds strong support at 200-DMA at 1.0624, further weakness only on break below
AUD/NZD chart - Trading View
AUD/NZD has erased early gains and was trading largely muted at 1.0662 at around 14:00 GMT, outlook bearish.
The pair has slipped lower from session highs at 1.0690 and the pair has formed a gravestone Doji on the daily charts.
Momentum with the bears. Stochs and RSI are sharply lower and RSI is below the 50 mark.
Analysis of the GMMA indicator shows major trend is turning bearish, while minor trend is strongly bearish.
Recovery attempts capped at 5-DMA and volatility is rising as evidenced by widening Bollinger bands.
Scope for dip till 200-DMA at 1.0624. Break below 200-DMA will open downside.
Support levels - 1.0641 (38.2% Fib), 1.0624 (200-DMA), 1.0583 (Trendline)
Resistance levels - 1.0682 (5-DMA), 1.0752 (110-EMA), 1.0769 (20-DMA)