Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- AUD/NZD was trading 0.13% lower on the day at 1.0532 at around 12:30 GMT
- MACD is biased bullish, ADX is also supporting upside with +ve DMI dominance
- Momentum is bullish, Stochs and RSI are biased higher, Bollinger bands are wide suggesting high volatility
- GMMA shows major trend is turning bullish, minor trend is strongly bullish
Support levels - 1.0516 (5-DMA), 1.0479 (110-EMA), 1.0453 (21-EMA)
Resistance levels - 1.0560 (Upper BB), 1.0591 (200-DMA), 1.06
Summary: AUD/NZD is poised for further gains. Bulls target 200-DMA, further bullishness only on break above.
