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Chart - Courtesy Trading View
AUD/NZD was trading 0.70% lower on the day at 1.1269 at around 09:40 GMT.
The pair has snapped at 2-day bullish streak and has slipped lower, breaks below 21-EMA.
The Reserve Bank of Australia's (RBA’s) dovish tilt along with risk-off mood drives flows away from the aussie.
Technical indicators are biased lower. Chikou span is biased lower. MACD confirms bearish crossover on signal line.
Momentum is bearish. Stochs and RSI are biased lower. RSI is well below the 50 mark.
Price action is below 200H MA. GMMA indicator shows bearish shift on the intraday charts.
Bearish 5-DMA crossover on 20-DMA adds to the downside bias. The pair hovers around strong trendline support at 1.1260. Break below will see more weakness.
