FxWirePro: AUD/NZD breaks below 200-DMA, more weakness on cards

AUD/NZD chart - Trading View 

Technical Analysis: Bias Bearish

- AUD/NZD consolidates break below 200-DMA, outlook bearish

- The pair was trading largely unchanged at 1.0728 at around 08:55 GMT

- Recovery attempts were capped at 200-DMA which has now turned stiff resistance at 1.0744

- Oscillators support weakness, Stochs and RSI are biased lower, RSI is well below 50 mark

- GMMA indicator shows major trend is turning bearish, while minor trend is bearish

- The pair is currently holding minor support at 1.0715, break below will drag prices lower

Support levels - 1.0715 (Rising trendline), 1.07, 1.0682 (50% Fib)

Resistance levels - 1.0744 (200-DMA), 1.0776 (55-EMA), 1.0782 (21-EMA)

Summary: AUD/NZD trades with a bearish bias. Breach at 200-DMA support has raised scope for weakness. The pair is holding support at 1.0715 (Rising trendline), watch for break below for dip till 61.8% Fib at 1.0620.