AUD/NZD chart - Trading View
AUD/NZD was trading 0.27% lower on the day at 1.0545 at around 05:00 GMT, outlook bearish.
The Australian dollar was dented post RBA Governor Lowe's comments. The pair has confirmed break below daily cloud, reinforcing bearish bias in the pair.
Lowe repeating the central bank’s dovish statements said that she does not expect that inflation goals will be met before 2024.
The pair is extending weakness for the 3rd straight week. Price action is on track to test major trendline resistance at 1.0525.
Price action is below major moving averages. Volatility is rising and momentum is strongly bearish.
Break below major trendline support at 1.0525 will plummet prices. Next major support for the pair lies at 1.0418 (Double bottom).
