This trading session was a volatile one for the Australian and New Zealand dollars. The trading action prior to these monetary policy decisions indicates traders are trying to form a support base in anticipation of upcoming decisions from the U.S. Federal Reserve, including the potential for a timetable for when the central bank will scale back its current large-scale stimulus.
The support rests at 0.69800 with resistance at 0.70050. The Pivot Point is at 0.69940 which the price is moving around. The EMA of 10 is moving in bearish bias in descendant channel and it is below EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the MACD histogram is in positive territory. The Stochastic is moving in low ranges and the ADX is showing a downward momentum.
The price is below the Ichimoku Cloud and the Chinkou Span is far away from the market price. The Tenkan-sen and the Kijun-sen are showing downward momentum.

• There is resistance at 0.70050, followed by resistance at 0.70190 and 0.72300.
• There is support at 0.69800 Below, there is 0.69690 and 0.69550.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.