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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.
