Chart - Courtesy Trading View
Technical Analysis: Bias Bullish
- AUD/NZD was trading 0.23% higher on the day at 1.1014 at around 15:50 GMT
- The pair has paused 3-day downside and edged higher as bear fail to extend break below 200H MA
- Stochs are showing a bearish rollover from oversold levels, but RSI holds above 50 mark
- Upside remains capped at 5-DMA, break above will fuel further gains
- Major trend in the pair is bullish as evidenced by GMMA indicator
Support levels:
S1: 1.0950 (21-EMA)
S2: 1.0855 (55-EMA)
Resistance levels:
R1: 1.1036 (5-DMA)
R2: 1.1079 (Upper BB)
Summary: AUD/NZD recovery is capped at 5-DMA. Watch out for break above for upside resumption.
