AUD/NZD Technical Analysis: Treading on thin ice, and ripe for a major sell-off

AUD/NZD Daily Chart 

• Within the daily bearish trend, AUD/NZD has so far managed to hold the key horizontal support line est. since June 2017, tested again 13th Feb 2019, despite a series of downbeat data and dovish rhetoric from the Aussie economy and the RBA. 
• Stochastic readings have moved out of bullish territory from oversold readings which leaves price vulnerable to the downside again. 
• Wide downside targets are located at 1.0192 as the early Jan flash crash lows. 
• Upside target is located at the 23.6% fibo target in the 1.0560s.