Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.14% higher on the day at 1.1073 at around 13:15 GMT
- The pair has shown successive Doji formation on the daily candles
- Price action fails to hold break above 5-DMA which is biased lower
- The pair is consolidating break below daily cloud
- MACD and ADX support downside in the pair
Support levels - 1.10, 1.0982 (200-DMA)
Resistance levels - 1.1088 (5-DMA), 1.1119 (110-EMA)
Summary: AUD/NZD trades with a bearish bias. Upside lacks traction. The pair is on track to test 200-DMA support.
