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AUD/NZD chart - Trading View
AUD/NZD was trading 0.29% lower on the day at 1.0613 at around 08:40 GMT, after closing largely unchanged in the previous session.
The Australian dollar depressed after the the Reserve Bank of Australia (RBA) left rate unchanged at 0.10%, but decided to purchase an additional $100 billion of bonds from mid-April.
The RBA statements that followed suggested that the central bank doesn't see conditions for CPI rise met until 2024.
The pair is extending weakness below 200-DMA and is hovering at daily cloud support. Technical indicators are biased lower, scope for further downside in the pair.
Break below daily cloud will find little support till 1.0525 (rising trendline). Further weakness only on break below.
On the flipside, failure to break below cloud and retrace above 200-DMA will negate any bearish bias.
