AUD/NZD Technical Analysis

AUD/NZD is in a strong downtrend
We should see a bearish breakout
The AUD is weak
M L5 is the breakout target

The swing number one
Highest High
Lower swing high
Breakout level
Target

The price is bearish. The latest RBA report was bearish. However, traders used momentum from bearish RBA to sell higher again. Breakout lower is expected. If the price manages to stay below 1.0416 and the daily candlestick makes a close below that level, we should expect the price to continue further down with bearish momentum. Targets will be 1.0384 followed by 1.0357 and 1.0260.ﾂ The last target is the camarilla monthly L5 pivot. Selling the rallies is the way to go.