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FxWirePro: AUD/NZD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Bullish

- AUD/NZD was trading 0.31% higher on the day at 1.0964 at around 10:10 GMT

- The pair has ignored 'Gravestone Doji' formation on the previous session's candle

- GMMA indicator shows major and minor trend are strongly bullish

- Volatility is high and rising and momentum is with the bulls

- MACD is on verge of bullish crossover on signal line, ADX supports gains

- Price action is well above the daily cloud and Chikou span is biased higher

Support levels:

S1: 1.0911 (5-DMA)

S2: 1.0888 (21-EMA)

Resistance levels:

R1: 1.0980 (Upper BB)

R2: 1.10

Summary: AUD/NZD trades with a bullish bias. Scope for test of 1.10 levels. 
 

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