AUD/NZD may fall 24 - 34 pips

Our pivot point is at 1.0820.

Our preference

The downside prevails as long as 1.0820 is resistance.

Alternative scenario

The upside breakout of 1.0820, would call for 1.0830 and 1.0840.

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 1.0808 and 1.0815).

Supports and resistances

1.0840 **

1.0830 *

1.0820 **

1.0810

1.0804 last

1.0780

1.0770 **

1.0760 *

1.0750 **

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