Short AUD/NZD rallies, scope for test of trendline at 1.0570

AUD/NZD extends downside after rejection at triangle top at 1.0874 in Wednesday's trade.

Price action has fallen below the cloud and Stochs on daily charts have rolled over from overbought levels confirming further downside.

RSI is at 44, biased lower, the line is on the verge of a bearish crossover on signal line, 5 and 10 DMAs have turned south.

Good to short rallies around 1.07, SL: 1.0775, Target: 1.06/1.0570