AUD/NZD chart - Trading View
AUD/NZD is extending weakness for the 4th straight session, outlook is bearish.
Upside in the pair has been rejected at major trendline resistance at 1.0940, decisive break above required for upside continuation.
5-DMA has turned and Stochs and RSI are showing a bearish rollover from near overbought levels.
Gravestone Doji formation on the previous session's candle suggests selling pressure at highs.
Antipodeans depressed after unexpected weakness in China Caixin PMI data which was in contrast to upbeat official readings published earlier in the week.
China Caixin Manufacturing PMI came in as 50.6 missing forecasts at 51.3 and compared to a prior reading of 50.9.
AUD/NZD trades with a major bullish bias, but technical indicators on the intraday charts show scope for more downside.
The pair is trading below 200H MA and is on track to test 21-EMA support at 1.0823. Further weakness only on break below.
