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Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.10% higher on the day at 1.1137 at around 09:40 GMT
- The pair is extending break above daily cloud, outlook remains bullish
- Momentum is strongly bullish, Stochs and RSI are biased higher, RSI well above 50
- Volatility is high and rising as evidenced by wide Bollinger bands
- GMMA indicator shows major and minor trend are strongly bullish
Support levels:
S1: 1.1101 (5-DMA)
S2: 1.1062 (21-EMA)
Resistance levels:
R1: 1.1171 (Upper W BB)
R2: 1.12
Summary: AUD/NZD trades with a bullish bias. The pair is poised to refresh yearly highs above 1.1163. Bullish invalidation only below daily cloud.
