FxWirePro: AUD/NZD fails to close below 110-EMA, stay long on breakout at 200-DMA (1.0883)

• AUD/NZD edges higher for a 2nd straight session, gains 0.47% on the day, bias higher.
   
• The pair has bounced off at 110-EMA support, has failed to close below.
   
• Aussie boosted by upbeat Australia retails sales data which arrived at +0.4% m/m, beating expectations at +0.3%. 
   
• Further, Australia ANZ Job Advertisements increased to 1.5% in May from previous -0.2%.
   
• The pair has hit session highs at 1.0887 before paring some gains to currently trade at 1.0878.
   
• Upside finds strong resistance at 200-DMA at 1.0833, decisive break above could see further upside.
   
• Scope then for test of 61.8% Fib at 1.0983. Break below 110-EMA negates bullish bias.
   
• Focus now on the Reserve Bank of Australia’s (RBA) monetary policy decision, scheduled to be held on Tuesday for further impetus.

Support levels - 1.0846 (5-DMA), 1.08, 1.0785 (110-EMA)

Resistance levels - 1.0883 (200-DMA), 1.09, 1.0961 (May 25 high), 1.0983 (61.8% Fib)

Recommendation: Good to go long on decisive break above 200-DMA, SL: 1.0840, TP: 1.09/ 1.960/ 1.0985

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 144.498 (Bullish), while Hourly CHF Spot Index was at 5.44161 (Neutral) at 0915 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex. 

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