FxWirePro: AUD/NZD finds major support at 200-DMA, further weakness only on break below

AUD/NZD chart - Trading View 

AUD/NZD extends sideways for the 3rd consecutive session. Back-to-back Doji formations suggest resilience at lows.

The pair finds strong support at 200-DMA (currently at 1.0627. Any further weakness only on break below.

Aussie remains under pressure as RBA prepares to slash rates. RBA Debelle's comments earlier today failed to impress Aussie bulls. 

RBA’s Debelle in a speech earlier today said Australia's economy likely recorded positive GDP growth in the third quarter.

He added that a jobless rate under 6% is a reasonable goal. However, Debelle  did not comment on the chance of QE being announced at the RBA meeting next week.

AUD/NZD as paused downside at 200-DMA support. Oversold oscillators may see some pullbacks. 

However, technical studies support downside. Pullbacks are likely to be limited. 110-EMA at 1.0749 to act as stiff resistance.

Resumption of weakness only below 200-DMA . Next major bear target lies at 1.0583 (Double bottom).