Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.09% higher on the day at 1.0879 at around 11:50 GMT
- The pair is extending gains for the 3rd straight session after downside paused at cloud support
- RSI has turned and Stochs are on verge of buliish crossover on signal line
- Price action has edged above 5-DMA and is testing resistance at 55-EMA at 1.0889
- GMMA indicator shows major and minor trend are neutral on the daily charts
Support levels:
S1: 1.0847 (5-DMA)
S2: 1.0808 (Lower BB)
Resistance levels:
R1: 1.0889 (55-EMA)
R2: 1.0907 (21-EMA)
Summary: AUD/NZD has bounced off daily cloud support, further weakness only on break below. Technical bias remains neutral, decisive break above 21-EMA will change near-term dynamics.
