AUDNZD Short Trade

AUDNZD Short Trade


AUD/NZD             intraday: the downside prevails as long as 1.0850 is resistance
Our pivot point stands at 1.0850.

Our preference: the downside prevails as long as 1.0850 is resistance.

Alternative scenario: above 1.0850, look for 1.0870 and 1.0890.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 1.0833 and 1.0834).

Supports and resistances:
1.0890 **
1.0870 *
1.0850 **
1.0840
1.0829 last
1.0800
1.0790 **
1.0770 *
1.0760 **