AUD/NZD Price Analysis: Bears keep reins around 1.0400

• AUD/NZD remains pressured below a five-week-old resistance line.
• Failures to cross the key SMAs, firmer downside Momentum favor bears.
• Bulls need a clear break of 200-SMA for re-entry.

AUD/NZD sellers keep the driver’s seat despite defending 1.0400 threshold, down 0.05% intraday around 1.0415 during Monday’s Asian session.

The cross-currency pair remains below a downward sloping trend line from late July, not to forget staying under the 200-SMA.

Given the upward sloping Momentum line portraying the strong support to the bearish impulse, AUD/NZD prices are likely to remain directed towards the south unless crossing the 200-SMA near 1.0485.

On an immediate basis, 100-SMA and the stated resistance line, respectively around 1.0440 and 1.0455, could challenge the pair’s corrective pullback.

Alternatively, the 1.0400 round figure and August-end swing low around 1.0365 could entertain the AUD/NZD pair’s short-term sellers ahead of directing them to the January 2020 lows near 1.0290.

During the fall, the latest bottom surrounding 1.0335 could offer an intermediate halt.

AUD/NZD: Four-hour chart

Trend: Bearish