AUD/NZD chart - Trading View
Technical Analysis: Bias Bearish
- AUD/NZD was trading 0.07% higher on the day at 1.0444 at around 11:10 GMT
- The pair has broken below 21-EMA, but has paused downside at 50-DMA support
- Momentum studies are bearish, Stochs and RSI are sharply lower, volatility is high
- MACD confirms bearish crossover on signal line, adding to the bearish bias
Support levels - 1.0423 (50-DMA), 1.0397 (cloud base), 1.0345 (Aug 31st low)
Resistance levels - 1.0469 (converged 5-DMA, 21-EMA, 55-EMA), 1.0534 (38.2% Fib)
Summary: AUD/NZD finds strong support at 1.0423, break below required for further weakness. Confluence of major resistance lies at 1.0469, retrace above would negate any further downside.
