Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.06% lower on the day at 1.0892 at around 16:10 GMT
- The pair is extending weakness below 200-DMA, outlook is bearish
- Price action is below major moving averages which are trending lower
- MACD and ADX support downside in the pair
- Momentum is bearish, volatility is high and rising
Support levels - 1.0865 (Lower BB), 1.0822 (110-week EMA)
Resistance levels - 1.0942 (55-week EMA), 1.0998 (200-DMA)
Summary: AUD/NZD trades with a bearish bias. Break below 200-DMA has raised scope for further downside. Dip till 110-week EMA at 1.0822 likely.
