The AUD/NZD pair is trading in a downward channel on a daily time frame. The volatility for the pair is low as the price is trading within the Bollinger band and close to its 20 day moving average. The price action is still far from its major support of 1.143-1.135 and therefore the downward trend may continue. However, the RSI is showing a clear sign of divergence which means that while the price is making the lower low it is not reflected by the RSI. Therefore, the bears could be losing their steam and the downward trend could be exhausting.