FxWirePro: AUD/NZD on track to break triangle base support, good to short rallies

• AUD/NZD trades with a major bearish bias. 
   
• Price action is below major moving averages and technical indicators are heavily bearish.
   
• The pair is trading in a symmetric triangle pattern and is on verge of breaking triangle base support at 1.0385.
   
• Break below will confirm weakness, we then see scope for test of 1.0237 levels.
   
• Support levels - 1.0385 (triangle base), 1.0377 (Dec 8 low), 1.0363 (Nov 9 low)
   
• Resistance levels - 1.04, 1.0410 (5-DMA), 1.0468 (20-DMA)
   

Recommendation: Good to go short on rallies around 1.04, SL: 1.0470, TP: 1.0375/ 1.03/ 1.0265/ 1.0240
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FxWirePro's Hourly AUD Spot Index was at -22.6273 (Neutral), while Hourly NZD Spot Index was at 11.6059 (Neutral) at 0145 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.