Chart - Courtesy Trading View
- AUD/NZD was trading 0.67% lower on the day at 1.1090 at around 09:20 GMT
- The pair has broken below daily cloud, is on track to test 200-DMA at 1.0975
- MACD and ADX support downside in the pair, Chikou span is biased lower
- Price action is below 200H MA and GMMA has turned bearish on the intraday charts
- Momentum is bearish, Stochs and RSI are sharply lower, volatility is high and rising
Major Support Levels:
S1: 1.10
S2: 1.0975 (200-DMA)
Major Resistance Levels:
R1: 1.1123 (110-EMA)
R2: 1.1151 (5-DMA)
Summary: AUD/NZD trades with a bearish bias. Close below cloud will see more downside. Scope for test of 200-DMA support at 1.0975.
