Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.16% lower on the day at 1.1111 at around 10:10 GMT
- The pair has been rejected at daily cloud and is extending weakness for the second straight session
- Price action is hovering around 200H MA, decisive break below will add downside pressure
- Volatility is high and rising, momentum is with the bears, RSI is below 50 and biased lower
- MACD and ADX support downside in the pair, Chikou span is biased lower
Support levels - 1.1107 (5-DMA), 1.1026 (Trendline), 1.0992 (200-DMA)
Resistance levels - 1.1119 (110-EMA), 1.1174 (21-EMA), 1.1204 (20-DMA)
Summary: AUD/NZD recovery rejected at daily cloud resistance. The pair is on track to test trendline support at 1.1026
