Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.04% lower on the day at 1.0785 at around 10:15 GMT
- The pair is extending sideways at 61.8% Fib support
- Price action is below major moving averages which are biased lower
- GMMA indicator shows major and minor trend are strongly bearish
- Momentum is bearish, volatility is high, Chikou span is biased lower
Major Support Levels:
S1: 1.0742 (Lower BB)
S2: 1.0677 (200-week MA)
Major Resistance Levels:
R1: 1.0818 (200H MA)
R2: 1.0878 (20-DMA)
Summary: AUD/NZD has found strong support at 1.0795. Oversold oscillators might cause some pullback from lows. Major trend is bearish. Bearish invalidation only above 200-DMA.
