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FxWirePro: AUD/NZD rejected at 61.8% Fib, slumps below 200-DMA

Chart - Courtesy Trading View 

Technical Analysis:

- AUD/NZD was trading 0.80% lower on the day at 1.0933 at around 15:50 GMT

- The pair is extending weakness for the second consecutive session, breaks below 200-DMA

- Price action has been rejected below 61.8% Fib, bearish RSI divergence keeps downside bias

- Momentum is turning bearish, Stochs and RSI are biased lower, Chikou span is biased lower

- Price action has slipped below 200H MA, GMMA indicator shows major and minor trend are bearish

Support levels - 1.0907 (110-EMA), 1.0895 (55-EMA)

Resistance levels - 1.0952 (21-EMA), 1.0996 (200-DMA)

Summary: AUD/NZD poised for further downside. Next support lies at 55-EMA at 1.0895. 
 

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