The AUD/NZD has been stepping down through November as the Aussie loses momentum.
Short-term interest could see a bounce back into the median range.
Longer-term sees significant pressure to return to familiar swing low pattern.
The AUD/NZD is trading into two-week lows as the Aussie (AUD) grapples against a technical rebound on the Kiwi (NZD) side of the pair.
A lower low pattern on the intraday charts has bullish momentum draining out of the Aussie as the pair has slumped below the 200-hour Simple Moving Average (SMA), implying bearish traversal is set to continue.
The 50-hour SMA has been capping off intraday upside corrections since crossing over the 200-hour SMA at the start of the week, and a technical correction above the 50-day SMA could evolve into a false breakout.
On the longer timeframes, daily candlesticks have the AUD/NZD backsliding into the 200-day SMA currently grinding sideways just north of the 1.0800 handle.
The last bullish run-up from October's lows just south of 1.0650 saw the pair quickly run out of gas near 1.0950 and is now heading back towards the midrange, and the 50-day SMA is beginning to turn downwards while still trapped in bearish territory still below the 200-day SMA
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