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FxWirePro: AUD/NZD pauses downside at 200-DMA, further weakness only on break below

Thursday, April 22, 2021 11:39 AM UTC

AUD/NZD chart - Trading View

Technical Analysis: Bias Bearish

- Bounces off 200-DMA and cloud support

- GMMA indicator shows short-term trend is bearish, but major trend is neutral

- Stochs and RSI suggest bearish momentum, support downside

- Price action is within a rising wedge pattern and bounce off 200-DMA keeps scope for upside resumption

Support levels - 1.0742 (200-DMA), 1.07 (Wedge base), 1.0692 (cloud base)

Resistance levels - 1.0782 (55-EMA), 1.0806 (21-EMA), 1.0828 (20-DMA)

Summary: AUD/NZD finds major support at 200-DMA, any further weakness only on break below. Decisive break above 55-EMA will confirm upside resumption.

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FxWirePro: AUD/NZD pauses downside at 200-DMA, further weakness only on break below

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