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FxWirePro: AUD/NZD hovers around 21-EMA support, rejection at daily cloud dents upside

AUD/NZD chart - Trading View 

Technical Bias: Bearish

- AUD/NZD was trading 0.21% lower on the day at 1.0757 at around 10:10 GMT

- Upside was capped at daily cloud, and further upside only on decisive break above

- 5-DMA has turned, price ation has slipped below 200H MA

- Stochs are on verge of bearish rollover from overbought levels

- Volatility is high as evidenced by wide Bollinger bands

Support levels - 1.0746 (110-EMA), 1.0721 (200-DMA), 1.0682 (50% Fib)

Resistance levels - 1.0774 (5-DMA), 1.08, 1.0823 (Cloud top)

Summary: AUD/NZD turns bearish after rejection at daily cloud. The pair is currently holding support at 21-EMA, break below will see further weakness. Scope for test of 200-DMA at 1.0721.
 

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