AUD/NZD Technical analysis

FX:AUDNZD   Australian Dollar / New Zealand Dollar
The steep rally in AUD/NZD is losing its steam.
It is marked by the formation of rising wedge pattern in the hourly chart.
As expected, it vented a bearish breakout.
Also, the MACD indicators has turned bearish and posits a incrementing bearish momentum.
Hence, we have a bearish view of the counter for the short-term.


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