Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD has slipped below 5-DMA
- Upside has failed to break above 38.2% Fib retracement
- RSI has turned and Chikou span is biased lower
- Price action is testing 55-EMA support at 1.0799
- Stochs are at overbought and on verge of bearish rollover
Support levels - 1.0799 (55-EMA), 1.0742 (21-EMA)
Resistance levels - 1.0888 (110-EMA), 1.0914 (Upper BB)
Summary: AUD/NZD upside shows signs of exhaustion. Technical indicators are turning bearish. Break below cloud will drag the pair lower.
