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  |   Technicals


FxWirePro: AUD/NZD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Bearish

- AUD/NZD was trading 0.12% higher on the day at 1.0954 at around 11:45 GMT

- The pair is consolidating break below 21-EMA, outlook is bearish

- MACD confirms bearish crossover on signal line, supports downside in the pair

- Bearish 5-DMA crossover on 20-DMA adds to the downside bias

- Price action has slipped below 200H MA and GMMA shows near-term bias has turned bearish

Support levels - 1.0907 (55-EMA), 1.0809 (110-EMA)

Resistance levels - 1.0971 (5-DMA), 1.1008 (20-DMA)

Summary: AUD/NZD trades with a bearish bias. Upticks are likely to be limited. Scope for test of 55-EMA at 1.0907.

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