The cross came under increased pressure as fresh weakness extended pullback from 1.1393 recovery high to 1.1248, retracing 76.4% of 1.1203/1.1393 upleg. With bulls returning to play on lower timeframes, immediate risk is seen for renewed attempt at strong support and short-term base at 1.1200 zone, as lower top was left at 1.1393, 25/09 high. Clear break lower, with weekly close below 1.1200, would be a signal of resumption of larger downtrend that commenced from 1.3790, 2011 peak and will open next targets at 1.1150, Dec 2007 low and psychological 1.1100 support. Alternatively, hesitation at 1.1200 would trigger further consolidation, while only break above the 1.1400/30 barrier would improve near-term structure.
Resistance: 1.1304; 1.1340; 1.1362; 1.1393
Support: 1.1227; 1.1203; 1.1197; 1.1147AUD/NZD Hourly" title="AUD/NZD Hourly" src="https://d1-invdn-com.akamaized.net/content/pic68c3d9689d16ef73f1a2cc552d6571c2.png" height="400" width="800">