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AUD/NZD chart - Trading View
AUD/NZD consolidates previous session's massive drop, trades comatose at 110-EMA support.
The pair has slumped over 0.76% on Tuesday's trade, and technical studies suggest scope for further downside.
Momentum studies are bearish. RSI is well below the 50 mark. Stochs have rolled over from overbought levels and are biased lower.
Price action has dipped below the daily cloud and rising volatility as evidenced by widening Bollinger bands could drag prices lower.
The pair finds major support at 'Double Bottom' at 1.0717. Break below will plummet prices. Next major support aligns at 200-DMA at 1.0614 ahead of 'Double Bottom' at 1.0583.
