AUD/NZD chart - Trading View
Technical Analysis: Bias Bearish
- AUD/NZD has confirmed break below 200-DMA
- Price action is below major moving averages
- GMMA shows bearish shift in near-term moving averages
- Volatility is rising as evidenced by widening Bollinger bands
- Momentum is strongly bearish with Stochs and RSI sharply lower
Support levels - 1.0613 (daily cloud), 1.0525 (rising trendline), 1.0484 (Apr 21, 2020 low)
Resistance levels - 1.0675 (5-DMA), 1.0684 (200W MA), 1.0718 (200-DMA)
Summary: AUD/NZD is trading rangebound on the day with session high at 1.0644 and low at 1.0623. Technical bias has shifted bearish and the price action is extending break below 200-DMA. Daily cloud offers strong support. Break below will drive prices lower.
