Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.80% lower on the day at 1.0933 at around 15:50 GMT
- The pair is extending weakness for the second consecutive session, breaks below 200-DMA
- Price action has been rejected below 61.8% Fib, bearish RSI divergence keeps downside bias
- Momentum is turning bearish, Stochs and RSI are biased lower, Chikou span is biased lower
- Price action has slipped below 200H MA, GMMA indicator shows major and minor trend are bearish
Support levels - 1.0907 (110-EMA), 1.0895 (55-EMA)
Resistance levels - 1.0952 (21-EMA), 1.0996 (200-DMA)
Summary: AUD/NZD poised for further downside. Next support lies at 55-EMA at 1.0895.
