Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- AUD/NZD was trading 0.42% lower on the day at 1.0672 at around 09:50 GMT
- The pair plunges lower for the third consecutive session
- Stochs and RSI are sharply lower, momentum with the bears
- Price action has slipped below 200H MA and GMMA indicator shows bearish shift on the intraday charts
- MACD and ADX support downside in the pair, Chikou span is biased lower
- The pair is holding above major support at 55-EMA and daily cloud
Support levels - 1.0669 (nearly converged cloud top and 55-EMA ), 1.0615 (110-EMA), 1.06
Resistance levels - 1.0718 (21-EMA), 1.0730 (5-DMA), 1.0735 (200H MA)
Summary: AUD/NZD trades with a bearish bias. Watchout for break below 55-EMA for further weakness.
