FxWirePro: AUD/NZD trades in familiar ranges, break below 200-DMA to plummet prices

AUD/NZD chart - Trading View 

Technical Analysis: Bias Bearish

- AUD/NZD was trading 0.16% lower on the day at 1.0746 at around 08:20 GMT

- Oscillators support weakness, Stochs and RSI are biased lower, RSI is well below 50 mark

- GMMA indicator shows major trend is neutral, while minor trend has turned bearish

- Recovery attempts in the pair capped at 21-EMA, stiff resistance seen till 1.08 mark

- The pair trades pivotal at 200-DMA support, break below will open downside

Support levels - 1.0744 (200-DMA), 1.0710 (Rising trendline), 1.0682 (50% Fib)

Resistance levels - 1.0778 (55-EMA), 1.0789 (21-EMA), 1.08 (20-DMA)

Summary: AUD/NZD trades with a bearish bias. Price action pivotal at 200-DMA support. Breach below will plummet prices. Scope for dip till 61.8% Fib at 1.0620.