AUD/NZD bears are in play at critical daily resistance. Bulls are backing off at this juncture, with familiar support in focus. AUD/NZD is trapped between familiar resistance and support in the lower time frames having met daily resistance within a compelling bearish bias. The following is a top-down analysis that illustrates how and why the price can deteriorate towards a measured downside daily target. Monthly chart Weekly chart As illustrated, the price is meeting old weekly support which is seeing bears in play. Daily chart According to the daily price action, the bears will likely remain in play at this juncture. 4-hour chart However, bears need to get through a hard support level first. In doing so, the old support is compelling while the price is resisted at the 21-SMA. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CAD Price Analysis: Bulls fail to take out the 12-month descending trendline FX Street 1 year AUD/NZD bears are in play at critical daily resistance. Bulls are backing off at this juncture, with familiar support in focus. AUD/NZD is trapped between familiar resistance and support in the lower time frames having met daily resistance within a compelling bearish bias. The following is a top-down analysis that illustrates how and why the price can deteriorate towards a measured downside daily target. Monthly chart Weekly chart As illustrated, the price is meeting old weekly support which is seeing bears in play. Daily chart According to the daily price action, the bears will likely remain… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
