Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.41% higher on the day at 1.1067 at around 10:50 GMT
- The pair is extending bounce off daily cloud and has broken above 21-EMA
- MACD is showing a bullish crossover on signal line
- Momentum is bullish, Stochs and RSI are biased higher, RSI has edged above 50 mark
- GMMA indicator shows major and minor trend are bullish
Support levels:
S1: 1.1029 (21-EMA)
S2: 1.0993 (55-EMA)
Resistance levels:
R1: 1.1090 (June 30 high)
R2: 1.1114 (Upper BB)
Summary: AUD/NZD poised for further upside. Weakness only below cloud.
