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FxWirePro: AUD/NZD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- AUD/NZD was trading 0.17% higher on the day at 1.0815 at around 13:15 GMT

- The pair has pased downside at daily cloud support, bias remains bearish

- Momentum is bearish, Stochs and RSI are sharply lower, RSI is below the 50 mark

- MACD and ADX support downside in the pair, Chikou span is biased lower

- Price action is below 200H MA and GMMA indicator shows major and minor trend are bearish on the intraday charts

Support levels:

S1: 1.0795 (Cloud top)

S2: 1.0698 (200-week MA)

Resistance levels:

R1: 1.0862 (5-DMA)

R2: 1.0890 (55-EMA)

Summary: AUD/NZD recovery lacks traction. Technical bias still remains bearish. Watch out for break into daily cloud for further weakness. 
 

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