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FxWirePro: AUD/NZD slips further into daily cloud, outlook bearish

AUD/NZD chart - Trading View 

Technical Analysis: Bias Bearish

- AUD/NZD extends weakness for the 3rd straight session

- The pair has slipped further into daily cloud, chikou span is biased lower

- 5-DMA has turned, the pair is holding support at 50-DMA

- Stochs and RSI show momentum is bearish, RSI is well below 50

- GMMA indicator shows near-term moving averages have turned bearish

Support levels - 1.0422 (50-DMA), 1.0373 (Lower BB), 1.0365 (Cloud base)

Resistance levels - 1.0455 (5-DMA), 1.0463 (55-EMA), 1.0485 (20-DMA)

Summary: AUD/NZD poised for further downside. Watch out for break below 50-DMA for further weakness. 
 

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