FXWirePro: AUD/NZD extensive downswings most likely on a signal by lagging indicator after gravestone doji formation

We maintain our bearish stance on this pair as the prices both on weekly and daily patterns have been well below moving average curve that signals us long term bearish trend is on the cards.

The pair has pretty much achieved our earlier target at 1.1317, we could now foresee and maintain our next target for this pair is at 1.0937 levels towards south.

RSI is currently trending near 44.5079, while %D crossover on slow stochastic above 70 levels signifies bearish momentum is continuing. Last month's diagonal strips have taken care of upswings and downswings and yielded handsome returns and we are firm onto continue with the same.

We traced out bearish gravestone doji pattern around 1.1218 levels on weekly charts in earlier post, and leading oscillators to substantiate current price fluctuations. Now the rest all is history and the current prices have shown their impact of this bearish candle pattern.