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FxWirePro: AUD/NZD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- AUD/NZD was trading 0.13% lower on the day at 1.0958 at around 06:05 GMT

- The pair has been rejected at 200-DMA, extends weakness for the second straight session

- GMMA indicator has turned bearish on the intraday charts, price action hovers around 200H MA

- Chikou span is biased lower, MACD is on verge of bearish crossover on signal line

Major Support Levels: 

S1: 1.0946 (200H MA)

S2: 1.0899 (21-EMA)

Major Resistance Levels: 

R1: 1.0998 (200-DMA)

R2: 1.1037 (Upper BB)

Summary: AUD/NZD upside falters at 200-DMA. Decisive break above required for upside continuation. On the flip side, break below 200H MA will drag the pair lower. 
 

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