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Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.60% higher on the day at 1.1049 at around 10:20 GMT
- The pair has bounced off cloud support and has broken past 21-EMA
- RSI is now biased higher and has edged above 50 mark
- Stochs are on verge of bullish rollover from oversold levels
- Price action has spiked above 200H MA, GMMA indicator has turned bullish on the intraday charts
Support levels:
S1: 1.1010 (200H MA)
S2: 1.0982 (55-EMA)
Resistance levels:
R1: 1.11
R2: 1.1155 (Upper W BB)
Summary: AUD/NZD has paused downside at daily cloud support. Retrace above 21-EMA raises scope for upside resumption.
