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FxWirePro: AUD/NZD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- AUD/NZD has slipped below 5-DMA

- Upside has failed to break above 38.2% Fib retracement

- RSI has turned and Chikou span is biased lower

- Price action is testing 55-EMA support at 1.0799

- Stochs are at overbought and on verge of bearish rollover 

Support levels - 1.0799 (55-EMA), 1.0742 (21-EMA)

Resistance levels - 1.0888 (110-EMA), 1.0914 (Upper BB)

Summary: AUD/NZD upside shows signs of exhaustion. Technical indicators are turning bearish. Break below cloud will drag the pair lower. 
 

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