FxWirePro: AUD/NZD pauses upside shy of 38.2% Fib, retrace below 110-EMA to see further weakness

AUD/NZD chart - Trading View 

• AUD/NZD is trading largely rangebound on the day at 1.0542 at 0720 GMT.
   
• The pair has paused 2 straight weeks of gains, just shy of 38.2% Fib at 1.0567.
   
• Signs of exhaution visible in the pair. Momentum indiators are at highly overbought levels.
   
• Near-term bias remains bullish. Break above 38.2% Fib will see further upside.
   
• Next major bull target lies at 200-DMA at 1.0694 ahead of 61.8% Fib at 1.08.
   
• Retrace below 110-EMA will see weakness till 55-EMA at 1.0446. 

Support levels - 1.0521 (110-EMA), 1.0514 (5-DMA), 1.0446 (55-EMA)

Resistance levels - 1.0567 (38.2% Fib), 1.0638 (Jan 9 high), 1.0670 (Jan 21 high)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.