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FxWirePro: AUD/NZD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- AUD/NZD was trading 0.07% lower on the day at 1.0914 at around 07:20 GMT

- Upside in the pair has been capped at 200-DMA, decisive break above required for further gains

- Price action has dipped below 200H MA, GMMA indicator has turned bearish on the hourly charts

- Momentum is bullish, MACD is on verge of bearish crossover on signal line

- 110-EMA is immediate support at 1.0887, break below 21-EMA will drag the pair to new lows

Support levels - 1.0870 (21-EMA), 1.0822 (Cloud top)

Resistance levels - 1.0931 (5-DMA), 1.0999 (200-DMA)

Summary: AUD/NZD upside momentum fades at 200-DMA resistance. Intraday bias has turned bearish. Scope for test of 21-EMA at 1.0870. 
 

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