AUD/NZD may fall 25 - 35 pips

1.0840 is our pivot point.

Our preference

The downside prevails as long as 1.0840 is resistance.

Alternative scenario

Above 1.0840, look for 1.0850 and 1.0860.

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 1.0830 and 1.0834).

Supports and resistances

1.0860 **

1.0850 *

1.0840 **

1.0830

1.0825 last

1.0800

1.0790 **

1.0780 *

1.0770 **

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