AUD/NZD head towards daily / hourly channel resistances 1.4060s

• AUD/NZD has been in a recent bullish drift and eyes both horizontal and dynamic resistance near 1.0445.
• Bulls may capitulate in the 1.4060s and then the focus will be back on the downside. 

AUD/NZD is in an overall bearish longer-term trend for 2021 but it has reached a weekly swing low and support 1.0416.

The following illustrates the likely path for the cross between a downside channel and a lower time-frame horizontal channel. 

Weekly chart

The weekly price action shows the cross meeting weekly support.

A break there opens further downside risks. 

Meanwhile, bulls will be seeking a test of the channel resistance near 1.0460 where failures will likely lead to a retest of support guarding the weekly lows.