Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD has ended consolidation phase and has turned bullish
- Price action has broken above 5-DMA and has retraced into daily cloud
- Upside pauses shy of 1.08 which is converged 20-DMA and 21-EMA
- RSI is now biased higher and Stochs are on verge of bullish rollover from oversold levels
- The pair trades above 200H MA and GMMA indicator has turned bullish on the intraday charts
Support levels:
S1: 1.0728 (5-DMA)
S2: 1.0640 (Lower BB)
Resistance levels:
R1: 1.0795 (21-EMA)
R2: 1.0838 (55-EMA)
Summary: AUD/NZD pivotal at 1.08 handle. Technical indicators are turning bullish. Watch out for break above 1.08 for further gains. Next major bull target lies at 55-EMA at 1.0838.
