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FxWirePro: AUD/NZD Daily Outlook

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. 
 

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