Bearish
AUD/NZD remains under pressure, trading below key resistance at 1.2045.
The AUD/NZD currency pair continues to face downward pressure, trading below the significant resistance level of 1.2045, which coincides with the 100-day exponential moving average (EMA). This technical setup suggests a prevailing bearish trend, with the pair unable to sustain gains above this critical threshold.
Key points
- AUD/NZD remains under pressure, trading below key resistance at 1.2045.
- Technical indicators show signs of weakening selling momentum.
- Recent rebound from support at 1.1920 lacks sufficient evidence of a trend reversal.
Sources
AI-generated from public news sources. Not financial advice.
