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  |   Technicals

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FxWirePro: AUD/NZD slips below 21-EMA, on track to test daily cloud

Chart - Courtesy Trading View 

Technical Analysis:

- AUD/NZD was trading 0.30% lower on the day at 1.1035 at around 11:10 GMT

- The pair has slipped below 21-EMA and is on track to test daily cloud 

- MACD confirms bearish crossover on signal line, volatility is high

- Momentum is bearish, Stochs and RSI are biased lower, RSI is below 50 mark

- Price action has slipped below 200H MA and GMMA indicator shows major and minor trend are bearish on the intraday charts

Major Support Levels: 

S1: 1.0991 (Cloud top)

S2: 1.0978 (55-EMA)

Major Resistance Levels: 

R1: 1.1053 (21-EMA)

R2: 1.1070 (5-DMA)

Summary: AUD/NZD was trading with a slightly bearish bias. The pair is on track to test daily cloud. Break below will drag the pair lower. 
 

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