AUD/NZD may fall 35 - 45 pips

Our pivot point stands at 1.1060.

Our preference

The downside prevails as long as 1.1060 is resistance.

Alternative scenario

Above 1.1060, look for 1.1080 and 1.1090.

Comment

The RSI is below 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 1.1038 and 1.1040).

Supports and resistances

1.1090 **

1.1080 *

1.1060 **

1.1050

1.1035 last

1.1000

1.0990 **

1.0970 *

1.0960 **

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