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AUD/NZD chart - Trading View
Technical Analysis: Bias Turning Bullish
- AUD/NZD was trading 0.10% higher on the day at 1.0752 at around 05:25 GMT
- The pair has bounced off 200-DMA support on Monday's trade, weakness only below 200-DMA
- RSI has turned higher and has edged above 50 mark, Stochs are on verge of rollover from near oversold levels
- GMMA indicator shows major trend is neutral, while minor trend is turning bullish
Support levels - 1.0740 (5-DMA), 1.0718 (200-DMA), 1.0984 (110W EMA)
Resistance levels - 1.0758 (200H MA), 1.0767 (Cloud base), 1.0812 (Double Top)
Summary: AUD/NZD trades in a rising channel pattern. Failure to break below 200-DMA has reinforced upside bias in the pair. Watch out for breakout of daily cloud for upside continuation.
