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FxWirePro: AUD/NZD down for the fourth straight session, more weakness on cards

Chart - Courtesy Trading View 

Technical Analysis:

- AUD/NZD was trading 0.12% lower on the day at 1.0911 at around 10:15 GMT

- The pair has failed to extend break above 200-DMA and has resumed weakness

- Bearish RSI divergence on the daily charts supports downside in the pair

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

- GMMA indicator shows major and minor trend have turned bearish on the intraday charts

Support levels:

S1: 1.0907 (110-EMA)

S2: 1.0896 (55-EMA)

Resistance levels:

R1: 1.0945 (21-EMA)

R2: 1.0961 (20-DMA)

Summary: AUD/NZD trades with a bearish bias. Price action is currently holding minor support at 110-EMA, decisive break below will see more weakness. Dip till 38.2% Fib at 1.0860 likely. 
 

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