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Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.28% lower on the day at 1.0682 at around 10:20 GMT
- The pair is extending previous session's downside, more weakness on cards
- Recovery attempts were capped at 21-EMA and daily cloud
- MACD and ADX support weakness, Chikou span is biased lower
- GMMA indicator shows major and minor trend are bearish
Support levels:
S1: 1.0650 (Lower BB)
S2: 1.0470 (Dec 2022 low)
Resistance levels:
R1: 1.0719 (5-DMA)
R2: 1.0751 (21-EMA)
Summary: AUD/NZD trades with a bearish bias. The pair is poised for further weakness, dip below 1.05 levels likely.
