AUD/NZD chart - Trading View
Technical Analysis: Bias Bearish
- AUD/NZD was trading 0.22% higher on the day at 1.0372 at around 11:10 GMT.
- The pair is consolidating break below daily cloud, scope for further weakness.
- Momentum is strongly bearish, RSI is below 50, Stochs at oversold levels
- Volatility is high and MACD supports further downside in the pair
- Major moving averages are biased lower, GMMA indicator shows bias is strongly bearish
- 5-DMA is sharply lower and caps recovery attempts in the pair
Support levels - 1.0341 (Lower BB), 1.03, 1.0279 (16th Sept low)
Resistance levels - 1.0381 (5-DMA), 1.04, 1.0420 (50-DMA)
Summary: AUD/NZD trades with a bearish bias. Recovery attempts lack traction. Upside caped at 5-DMA. Scope for dip till 1.0250.
