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FxWirePro: AUD/NZD Daily Outlook

Chart - Courtesy Trading View Technical Analysis: - AUD/NZD was trading 0.37% higher on the day at 1.1052 at around 16:25 GMT - The pair has spiked past 200-DMA resistance and is on track to test 61.8% Fib - GMMA indicat…

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Chart - Courtesy Trading View 

Technical Analysis:

- AUD/NZD was trading 0.37% higher on the day at 1.1052 at around 16:25 GMT

- The pair has spiked past 200-DMA resistance and is on track to test 61.8% Fib

- GMMA indicator shows major and minor trend are bullish on the daily charts

- Momentum is bullish, stochs and RSI are sharply higher, Chikou span is biased higher

- The pair is extending gains for the fifth straight week, volatility is rising 

Support levels - 1.1010 (5-DMA), 1.0997 (200-DMA)

Resistance levels - 1.1100 (61.8% Fib), 1.1175 (Oct 26th high)

Summary: AUD/NZD trades with a bullish bias. The pair has shown a decisive break above 200-DMA, raising scope for further upside. 61.8% Fib in sight. 
 

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