Chart - Courtesy Trading View
Technical Analysis: Bias Neutral
- AUD/NZD was trading 0.31% higher on the day at 1.0658 at around 11:00 GMT
- The pair has snapped a 2-day bearish streak and edged higher after holding 110-EMA support
- Price action is on track to form a 'Bullish Engulfing' pattern on the daily charts
- GMMA indicator shows minor trend has turned bearish. Price action has slipped below 200H MA
- Momentum indicators are bearish, volatility is high and rising
Support levels - 1.0621 (110-EMA), 1.06, 1.0554 (200-DMA)
Resistance levels - 1.0669 (55-EMA), 1.0697 (21-EMA), 1.0705 (20-DMA)
Summary: AUD/NZD was trading with a neutral bias. The pair is holding support at 110-EMA, break below will see further weakness. Dip till 200-DMA at 1.0554 likely.
