Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.08% higher on the day at 1.0728 at around 10:25 GMT
- Price action has retraced dip below daily cloud
- Momentum is still bearish, Stochs and RSI are biased lower
- Recovery attempts remain capped below 200H MA and 5-DMA
- MACD and ADX support downside in the pair, Chilou span is biased lower
Support levels:
S1: 1.0731 (Cloud base)
S2: 1.0700 (200-week MA)
Resistance levels:
R1: 1.0759 (5-DMA)
R2: 1.0809 (200H MA)
Summary: AUD/NZD recovery attempts lack traction. Technical analysis for the pair remains bearish. Scope for downside resumption. Breakout above 200H MA could change near-term dynamics.
