Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.47% higher on the day at 1.0897 at around 18:00 GMT
- The pair is extending previous session's gains, breaks past 110-EMA
- Momentum is bullish, volatility is high and rising
- Price action is extending gains inside daily cloud, Chikou span is biased higher
- GMMA indicator shows major and minor trend have turned bullish on the intraday charts
Support levels - 1.0829 (200H MA), 1.0804 (55-EMA)
Resistance levels -1.0952 (Upper BB), 1.1001 (200-DMA)
Summary: AUD/NZD poised to extend gains. Price action has broken above 38.2% Fib and is on track to test 50% Fib at 1.0980.
