AUD/NZD may fall 27 - 37 pips

1.1020 is our pivot point.

Our preference

The downside prevails as long as 1.1020 is resistance.

Alternative scenario

The upside breakout of 1.1020, would call for 1.1040 and 1.1050.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.1016 and 1.1024).

Supports and resistances

1.1050 **

1.1040 *

1.1020 **

1.1010

1.0997 last

1.0970

1.0960 **

1.0940 *

1.0930 **

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