AUD/NZD Technical Analysis

• Downtrend continues
• The retracement is over
• We should see a move down
• M L5 Pivot should be the target.

1. The swing low
2. Swing High
3. X Cross of the trendline
4. Entry
5. Target

The price is bearish. After a bigger retracement, the AUD/NZD is making a move to the downside. We should have a continuation of a downtrend. It is clear that sellers are taking over. Bearish RBA stance further ignited bearish momentum. 1.0420 zone is bearish. This is where sellers are. Overnight momentum dropped the price. The main targets are W L4 camarilla – 1.0349 and W L5/ M L5 camarilla pivots 1.0305-1.0280.

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Cheers and safe trading,

Nenad