AUD/NZD chart - Trading View
Technical Analysis: Bias Bearish
- AUD/NZD slips lower from session highs, upside capped at 110-EMA
- Stochs show rollover from overbought levels and RSI is also biased lower
- Long upper wicks on the daily candles shows bulls are struggling to take prices higher
- 'Death Cross' (bearish 50-DMA crossover on 200-DMA) adds to bearish pressure on the pair
- 21-EMA is strong support at 1.0627, break below will see more weakness
Support levels - 1.0627 (21-EMA), 1.0616 (20-DMA), 1.0605 (50-DMA)
Resistance levels - 1.0680 (200-DMA), 1.07 (Psychological mark), 1.0730 (50% Fib)
Summary: AUD/NZD was trading 0.21% higher at 1.0653 at around 10:35 GMT, but upside lacks traction. Outlook is turning bearish and the pair is showing signs of weakness after failing to break above 200-DMA. 21-EMA is offering strong support at 1.0627, break below will see weakness.
