FxWirePro: AUD/NZD slumps for the 4th straight session, outlook bearish
AUD/NZD chart - Trading View
AUD/NZD bears remain in charge, drive prices lower for the 4th consecutive session.
The pair was trading 0.16% lower on the day at 1.0651 at around 09:35 GMT, outlook bearish.
Aussie remains subdued amid poor data and broad risk-off sentiment driven by runaway rally in the US bond yields.
On the data front, Australia’s Private Sector Credit for January eased below 0.3% to 0.2% MoM whereas the YoY reading also fell to 1.7% from 1.8% prior.
AUD/NZD on a downward spiral after rejection at Triangle top, slips below 200-DMA.
The pair is on track for further downside as technical indicators support weakness. Cloud is immediate support at 1.0630.
Break below daily cloud will see dip till Triangle base at 1.0565. Breach below Symmetric Triangle will open downside.