A descending triangle is forming on this pair. Watch for a breakout after the release of RBNZ's rate statement and Australia's employment numbers, due out soon. I would only play a break to the upside as this pair is already very oversold and due for a correction.
Thanks ForceFollower, I was very cautious and only looking for a short-term trade following the AUD and NZD data. This never panned out, and price also pushed below support, so I quickly abandoned the idea.
However, I still think we could see a reversal occur in this area, it may need more time.