AUD/NZD closes below 100-DMA, bias lower, sell rallies
AUD/NZD price action dips below daily Ichi cloud, intraday bias lower.
Weakness seen on daily charts, with MACD on the verge of a bearish crossover.
The pair has closed below 100-DMA on Monday with confirmation on Stochs rollover and RSI slipping below 50.
We see scope for test of trendline support at 1.0345.
Support levels - 1.0455 (sessionlow), 1.0424 (Jan 5 low), 1.0345 (trendline)
Resistance levels - 1.0497 (100-DMA), 1.0508 (5-DMA), 1.0562 (200-DMA and cloud top)
Good to go short on ralies around 1.0490, SL: 1.0560, TP: 1.0455/ 1.04/ 1.0345.
Weakness seen on daily charts, with MACD on the verge of a bearish crossover.
The pair has closed below 100-DMA on Monday with confirmation on Stochs rollover and RSI slipping below 50.
We see scope for test of trendline support at 1.0345.
Support levels - 1.0455 (sessionlow), 1.0424 (Jan 5 low), 1.0345 (trendline)
Resistance levels - 1.0497 (100-DMA), 1.0508 (5-DMA), 1.0562 (200-DMA and cloud top)
Good to go short on ralies around 1.0490, SL: 1.0560, TP: 1.0455/ 1.04/ 1.0345.
AUD slumps on dismal Australia's core CPI print.
Book partial profits. Bias lower. Stay short for 1.0345.