FxWirePro: AUD/NZD finds major trendline support at 1.0615, good to go short on break below

• AUD/NZD trades 0.06% lower on the day, extending downside after rejection at 20-DMA.
   
• China-US heat-up in tariff threats keeps risk sentiment dented weighing on the antipodeans.
   
• Technical indicators are biased lower. RSI is weak below 50 levels and Stochs are biased lower.
   
• The pair finds strong trendline support at 1.0615, we see weakness accentuate on break below.
   
• Next major support below 1.0615 lies at 1.0567 (78.6% Fib) ahead of 1.0475 (88.6% Fib).
   
• Focus now on Australia HIA New Home Sales figures for March and a speech from the Reserve Bank of Australia's (RBA) Assistant Governor Kent due later this week for further impetus.

Support levels - 1.0615 (trendline), 1.0567 (78.6% Fib), 1.0475 (88.6% Fib)

Resistance levels - 1.0675 (5-DMA), 1.07, 1.0721 (61.8% Fib)

Recommendation: Good to go short on break below 1.0615, SL: 1.0675, TP: 1.0570/ 1.05/ 1.0475

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest