AUD/NZD chart - Trading View
Technical Analysis: Bias Bearish
- AUD/NZD was trading largely unchanged on the day at 1.0733 at around 12:20 GMT
- Recovery attempts were capped at 5-DMA, pair has formed a spinning top on the daily candle at the time of writing
- 5-DMA is biased lower, price action is hovering above 200-DMA support, break below will see further downside
- Stochs and RSI are biased lower, momentum is bearish, volatility is high as evidenced by wide Bollinger bands
- MACD shows bearish crossover on signal line, adding to the downside bias
Support levels - 1.0719 (200-DMA), 1.07 (Psychological mark), 1.0682 (50% Fib)
Resistance levels - 1.0746 (21-EMA), 1.0768 (200H MA), 1.0823 (Cloud top)
Summary: AUD/NZD recovery attempts capped at 5-DMA. The pair is hovering above 200-DMA support at 1.0719. Breach below 200-DMA will open further downside.
