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FxWirePro: AUD/NZD breaks below 21-EMA, 'Shooting Star' on weekly charts dents upside

Wednesday, September 2, 2020 9:54 AM UTC

AUD/NZD chart - Trading View

AUD/NZD is extending previous week's weakness, trades 0.53% lower on the week till date.

The pair was trading 0.35% lower on the day and looks set to extend downside as price action breaks below 21-EMA.

'Shooting Star' pattern formed on the weekly charts has halted the uptrend in the pair.

A bearish 5-DMA crossover on 20-DMA supports downside in the pair. Momentum indicators have turned bearish.

Immediate support lies at 55-EMA at 1.0806. Dip till daily cloud at 1.0722 likely. Breach below cloud will open downside.

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FxWirePro: AUD/NZD breaks below 21-EMA, 'Shooting Star' on weekly charts dents upside

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