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.
