FxWirePro: AUD/NZD stalls downside at 55-EMA support

AUD/NZD chart - Trading View 

Technical Analysis: Bias Neutral

GMMA Indicator

- Daily charts: Minor trend bearish; Major trend bullish

- Weekly charts: Minor trend bearish; Major trend bullish

Ichimoku Analysis

- Price action is above cloud on daily and weekly charts

- Chikou span shows some weakness on the weekly charts

Oscillators

- Oscillators show bearish momentum on the daily and weekly charts

Bollinger Bands

- Price action has bounced off lower Bollinger band on the daily charts, volatility is high

- Price action capped at upper Bollinger Band on the weekly charts, resumption of upside likely

Major Support Levels: 1.0808 (55-EMA), 1.0719 (110-EMA), 1.0559 (200-DMA)

Major Resistance Levels: 1.0884 (21-EMA), 1.0903 (5W MA), 1.0921 (20-DMA)

Summary: AUD/NZD price action has halted downside at 55-EMA support. 'Spinning Top' at lows on the previous session's candle shows seller hesitation to drag prices lower. Price action currently grinding sideways at 55H EMA resistance. Break above will see upside. Long positions advised only on decisive break above 21-EMA.