AUD/NZD Still In Downtrend But The Price Is Retracing

Technical analysis of Forex market

AUD/NZD is in downtrend and the price has retraced to the POC zone. We might see a mover soon.

1.0440-82 is the POC zone where the price could bounce up or down. If 1.0498 breaks to the upside we should see 1.05980. A move below 1.0440 should be targeting 1.0438 and 1.03178 at least. Below those levels we should see a new low of 1.0158.