AUD/NZD may fall 18 - 28 pips

1.0900 is our pivot point.

Our preference

The downside prevails as long as 1.0900 is resistance.

Alternative scenario

The upside breakout of 1.0900, would call for 1.0910 and 1.0920.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.0903 and 1.0922).

Supports and resistances

1.0920 **

1.0910 *

1.0900 **

1.0890

1.0888 last

1.0870

1.0860 **

1.0850 *

1.0840 **

Number of asterisks represents the strength of support and resistance levels.