AUD/NZD chart - Trading View
Technical Analysis: Bias Turning Bearish
- AUD/NZD was trading 0.47% lower on the day at 1.0751 at around 12:45 GMT
- The pair was capped at major trendline resistance at 1.0820
- A potential 'Bearish Engulfing' candlestick pattern on daily charts raises scope for downside
- Price action hovers around 200H MA support at 1.0754, decisive break below will drag prices lower
- Major trend in the pair is neutral. Breach below 200-DMA support will change near-term bias to bearish
Support levels - 1.0734 (21-EMA), 1.0719 (200-DMA), 1.07 (110-EMA)
Resistance levels - 1.0820 (Trendline), 1.09, 1.0962 (110-month EMA)
Summary: Antipodeans fail to benefit from upbeat China data dump. Risk-off likely keeps the pair depressed. Technical bias is neutral with scope for bearish reversal. Watch out for break below 200-DMA for further weakness.
