AUD/NZD chart - Trading View
AUD/NZD trades 0.10% lower on the day at 1.0519 at 04:50 GMT.
The pair is extending declines after rejection at 200-DMA which is stiff resistance at 1.0618.
Downside is holding support at cloud base at 1.0502, break below will accentuate weakness.
Technical analysis supports downside. RSI is well below 50 and RSI and Stochs are sharply lower.
Immediate support on the downside lies at 20W SMA at 1.0495. Break below eyes 61.8% Fib at 1.0397.
5-DMA is immediate resistance at 1.0562. Break above 200-DMA negates bearish bias.
Recommendation: Watch out for break below 20W SMA and daily cloud for further weakness.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
