Bearish
AUD/NZD tests key support at 1.2394 amid bearish breakout risk.
AUD/NZD is testing the 1.2394 support level, with a potential bearish breakout targeting 1.2295. The Relative Strength Index (RSI) shows bearish divergence, indicating weakening bullish momentum. Market participants are awaiting the Reserve Bank of Australia's (RBA) interest rate decision, with expectations of a 25 basis point hike to 4.6%.
Key points
- AUD/NZD tests 1.2394 support; bearish breakout risk to 1.2295.
- RSI shows bearish divergence; bullish momentum weakening.
- Market anticipates RBA rate hike to 4.6%.
Sources
AI-generated from public news sources. Not financial advice.
