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.
