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.
