FX:AUDNZD   Australian Dollar / New Zealand Dollar
265 0 7
AUD/NZD             was rejected at 50-DMA on May 19th trade and the pair is extending downside.

We have seen a decisive break below 100-DMA on Monday's trade, bias remains lower.

The pair finds strong trendline support at 1.0650, break below will accentuate weakness.

Next major support below 1.0650 lies at 200-DMA at 1.0598.

Technical indicators on the weekly charts are bearishly aligned.

RSI and Stochs on weeklies are biased lower, while MACD is showing a bearish crossover on signal line.

Support levels - 1.0650 ( trendline ), 1.0628 (61.8% Fib of 1.0237 to 1.1019 rise), 1.0598 (200-DMA)

Resistance levels - 1.0714 (5-DMA), 1.0720 (38.2% Fib), 1.0764 (20-DMA)

Good to go short on break below 1.0650, SL: 1.0715, TP: 1.06/ 1.0535
Comment: AUD/NZD breaks support at 1.0650.

Eyes 200-DMA at 1.0598. Stay short.
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