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- AUD/NZD Price Analysis: Bulls could be denied as AUD/USD breaks daily lows
AUD/NZD Price Analysis: Bulls could be denied as AUD/USD breaks daily lows
- The bulls have tried to step in at a critical level of support.
- AUD/NZD could be pressured here, taking into account AUD/USD.
AUD/NZD has tried to move lower and AUD/USD has continued lower as follows:
The move is strong and there appears to be no catalyst although USDCNH is on the move higher today. Nevertheless, there is room for more downside in AUD/USD towards the daily lows. This should weigh on the cross and a break of the dynamic support would be expected to result in a downside correction:
AUD/NZD H1 chart
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