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FxWirePro: AUD/NZD Daily Outlook

Chart - Courtesy Trading View 

Spot Analysis:

AUD/NZD was trading 0.03% higher on the day at 1.0561 at around 10:20 GMT

Previous Week's High/ Low: 1.0563/ 1.0351

Previous Session's High/ Low: 1.0598/ 1.0523

Technical Analysis:

- AUD/NZD finds stiff resistance at 200-DMA

- The pair has paused upside shy of 1.06 handle 

- Price action has retraced below 55-week EMA

- Volatility is high and momentum is bullish

- MACD and ADX also support upside in the pair

Support levels - 1.0547 (5-DMA), 1.0534 (38.2% Fib), 1.0476 (21-EMA)

Resistance levels - 1.0559 (55-week EMA), 1.0588 (200-DMA), 1.0601 (110-week EMA)

Summary: AUD/NZD is struggling at 200-DMA resistance. Watchout for decisive break above for upside continuation. 
 

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