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AUD/NZD in Bearish Continuation

The AUD/NZD broke below a rising trendline to start the month. Then, it consolidated a bit above 1.15 last week, going back up to the 1.16-1.1625 area before retreating. This latest downswing confirms a price top and also put price below the 200-, 100-, and 50-period SMAs. Meanwhile, the 4H RSI cracked 40, showing loss of last month's bullish momentum.

AUD/NZD 4H Chart 2/9
(click to enlarge)

As we head into a new week, AUD/NZD looks like it has confirmed a bearish reversal and looks poised to attack the 1.0353 support level. This is also the historic low. 

A break above 1.0650 will probably be needed to remove the current bearish bias and replace with extension of the bullish correction.

Meanwhile, a close below 1.05 tomorrow would point towards the current historic low, as well as the 1.03 handle.