Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- AUD/NZD was trading 0.12% higher on the day at 1.0954 at around 11:45 GMT
- The pair is consolidating break below 21-EMA, outlook is bearish
- MACD confirms bearish crossover on signal line, supports downside in the pair
- Bearish 5-DMA crossover on 20-DMA adds to the downside bias
- Price action has slipped below 200H MA and GMMA shows near-term bias has turned bearish
Support levels - 1.0907 (55-EMA), 1.0809 (110-EMA)
Resistance levels - 1.0971 (5-DMA), 1.1008 (20-DMA)
Summary: AUD/NZD trades with a bearish bias. Upticks are likely to be limited. Scope for test of 55-EMA at 1.0907.
