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FxWirePro: AUD/NZD pauses 5-day bearish streak, bias tilted towards the downside

AUD/NZD chart - Trading View 

Technical Analysis: Bias Bearish

- Price action consolidating below 200-DMA

- Bearish 5-DMA crossover over 20-DMA adds to the downside bias

- Stochs and RSI are sharply lower, RSI is below 50 mark

- Bearish MACD line crossover on signal line keeps bias lower

- GMMA indicator shows minor trend is bearish and major trend is neutral

Support levels - 1.0687 (nearly converged 200W MA, 55 and 110 EMA), 1.0657 (38.2% Fib), 1.0648 (110W EMA)

Resistance levels - 1.0716 (200-DMA), 1.0734 (20-DMA), 1.0767 (200H MA)

Summary: AUD/NZD is consolidating break below 200-DMA. The pair has paused a 5-day bearish streak after the Australian dollar was buoyed on upbeat Q4 CPI data. Bias is tilted towards the downside. But, retrace above 200-DMA will negate any further bearish bias.

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