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FxWirePro: AUD/NZD Daily Outlook

Thursday, March 23, 2023 5:19 PM UTC

Chart - Courtesy Trading View

Technical Analysis:

- AUD/NZD was trading 0.38% lower on the day at 1.0696 at around 14:10 GMT

- The pair is slipping lower for the 2nd straight session after failure to extend break into daily cloud

- GMMA indicator shows major and minor trend are bearish on daily and intraday charts

- Price action is below major moving averages which are trending lower

- Chikou span is biased lower, MACD and ADX support downside in the pair

Support levels:

S1: 1.0635 (Lower BB)

S2: 1.0622 (29th Dec 2022 low)

Resistance levels:

R1: 1.0725 (5-DMA)

R2: 1.0780 (21-EMA)

Summary: AUD/NZD has resumed downside after failure at cloud base. Price action has slipped below 5-DMA, scope for further downside.

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FxWirePro: AUD/NZD Daily Outlook

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