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.
