Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.56% lower on the day at 1.0721 at around 10:50 GMT
- The pair has broken below 61.8% Fib support raising scope for further downside
- Momentum is bearish, Stochs and RSI are strongly lower and in oversold territory
- GMMA indicator shows major and minor trend are strongly bearish
- Volatility is high and rising, Chikou span is biased lower, MACD and ADX support downside
Support levels:
S1: 1.0676 (200-week MA)
S2: 1.0565 (76.4% Fib)
Resistance levels:
R1: 1.0742 (61.8% Fib)
R2: 1.0772 (5-DMA)
Summary: AUD/NZD trades with a bearish bias. Break below 61.8% Fib has opened downside. Scope for test of 76.4% Fib at 1.0565.
