Originally published by AxiTrader
AUD/NZD remains in a solid uptrend, but has lost momentum in the recent days after resistance above 1.12 proved to be too strong. There are first signs of weakness now. AUD/NZD broke below the key support level at 1.1145 and there is negative RSI divergence on the Daily chart. In the short-term, a correction towards 1.10 could follow. There, the currency pair is likely to run into decent demand again, as the overall uptrend remains intact.