AUD/NZD extends downside after rejection at triangle top at 1.0874 in Wednesday's trade.
- Price action has dipped into the cloud and Stochs on daily charts have rolled over from overbought levels confirming further downside.
- Cloud-top now has flipped to strong resistance on the upside, ahead of 1.0875 (triangle top) and then at 1.0882 (Nov 4th highs).
- Immediate support on the downside lies at 1.0745 (Feb 22nd lows), breaks below could see next support at 1.0722 (Feb 19th lows).
- Our call on the pair (http://www.econotimes.com/FxWirePro-AUD-NZD-rejected-at-trendline-resistance-at-10875-dips-into-cloud-to-confirm-downside-166390) has hit first TP.
Recommendation: Hold for further downside.
