Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.30% lower on the day at 1.1035 at around 11:10 GMT
- The pair has slipped below 21-EMA and is on track to test daily cloud
- MACD confirms bearish crossover on signal line, volatility is high
- Momentum is bearish, Stochs and RSI are biased lower, RSI is below 50 mark
- Price action has slipped below 200H MA and GMMA indicator shows major and minor trend are bearish on the intraday charts
Major Support Levels:
S1: 1.0991 (Cloud top)
S2: 1.0978 (55-EMA)
Major Resistance Levels:
R1: 1.1053 (21-EMA)
R2: 1.1070 (5-DMA)
Summary: AUD/NZD was trading with a slightly bearish bias. The pair is on track to test daily cloud. Break below will drag the pair lower.
