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