FxWirePro: AUD/NZD breaks below 100-DMA support, bias lower, stay short

• AUD/NZD is in continuation of a "Bullish Butterfly" pattern on daily charts.
   
• The pair has broken major support by 100-DMA at 1.0532, scope for test of trendline at 1.0415.
   
• Violation at trendline support could see test of 1.0363 (Nov 9 lows).
   
• Our previous call (http://www.econotimes.com/FxWirePro-Possible-Bullish-Butterfly-on-AUD-NZD-short-break-below-10530-420797) has hit TP1&2.
   
• Support levels - 1.0415 (trendline), 1.0363 ((Nov 9 lows), 1.0312 (July 8 lows)
   
• Resistance levels - 1.0533 (100-DMA), 1.0573 (50-DMA), 1.0588 (falling trendline), 1.0612 (Nov 25 high)
   

Recommendation: Book partial profits, lower trailing stops to 1.0533, target 1.0415/ 1.04/ 1.0365
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FxWirePro's Hourly AUD Spot Index was at 40.2017 (Neutral), while Hourly NZD Spot Index was at 104.577 (Highly bullish) at 0400 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex