Search ForexCrunch
  • AUD/NZD bears looking for a break of critical daily dynamic support.  
  • A meaningful Fbo retracement has been met.  

While the price remains stuck in a tight range, and with little on the table in terms of a catalyst, we do have a dynamic trendline that poses risks to the downside on a break thereof as follows:

Daily chart

The daily 21 EMA and support structure is important at this juncture which potentially opens risk to a considerable run to the downside within the broader sideways choppy range:

Weekly chart