AUD/NZD chart - Trading View
Technical Analysis: Bias Bearish
- AUD/NZD was trading 0.10% lower on the day at 1.0730 at around 11:20 GMT
- Recovery attempts were rejected at 5-DMA, pair slips lower from session highs
- 5-DMA has turned, price action has slipped below 55-EMA
- Stochs confirm a bearish rollover from overbought levels, RSI is below 50 and biased lower
- Volatility is high as evidenced by wide Bollinger bands
- MACD is on verge of bearish crossover on signal line
Support levels - 1.0720 (200-DMA), 1.07 (Psychological mark), 1.0682 (50% Fib)
Resistance levels - 1.0749 (21-EMA), 1.0755 (5-DMA), 1.0823 (Cloud top)
Summary: AUD/NZD recovery attempts rejected at 5-DMA. The pair is currently on track to test of 200-DMA at 1.0720. Breach below 200-DMA will open further downside.
