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FxWirePro: AUD/NZD breaks below cloud, eyes 200-DMA

Chart - Courtesy Trading View 

- AUD/NZD was trading 0.67% lower on the day at 1.1090 at around 09:20 GMT

- The pair has broken below daily cloud, is on track to test 200-DMA at 1.0975

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

- Price action is below 200H MA and GMMA has turned bearish on the intraday charts

- Momentum is bearish, Stochs and RSI are sharply lower, volatility is high and rising

Major Support Levels: 

S1: 1.10

S2: 1.0975 (200-DMA)

Major Resistance Levels: 

R1: 1.1123 (110-EMA)

R2: 1.1151 (5-DMA)

Summary: AUD/NZD trades with a bearish bias. Close below cloud will see more downside. Scope for test of 200-DMA support at 1.0975. 
 

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