AUD/NZD may fall to 1.0480 - 1.0600

Our pivot point is at 1.1000.

Our preference

The downside prevails as long as 1.1000 is resistance.

Alternative scenario

Above 1.1000, look for 1.1190 and 1.1300.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.0908 and 1.0962).

Supports and resistances

1.1300 **

1.1190 *

1.1000 **

1.0920

1.0825 last

1.0600

1.0480 **

1.0370 *

1.0260 **

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