AUD/NZD 1H Chart: Channel Down

Aussie-kiwi cross seems to be trailing lower after it gained 180 pips from 2nd to 10th of October. At the moment it is testing 20-bar and 20-day SMA. We expect a drastic sell off from this level. Such turn of events is indicated by the short term technicals as well. Medium and long term technicals give a rather clear neutral outlook on the pair. Looking at it seems very likely the pair should stall before the 14th of October low as we have few other technical levels around it as well. If it will not kick the pair in to a rally we expect it to continue depreciating and reach pattern support in the next few days.