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AUD/NZD chart - Trading View
AUD/NZD has paused upside at 200-DMA which is stiff resistance at 1.0658. Technical outlook for the pair remains bullish.
The pair was trading 0.13% lower at 1.0646 at around 07:00 GMT, after closing 0.22% higher in the previous session.
A 5-day winning streak broken at 200-DMA. But, volatility is high and rising, MACD supports gains. Momentum is also with the bulls.
The pair has bounced off support at weekly cloud. Analysis of GMMA indicator shows minor trend is strongly bullish.
Decisive break above 200-DMA will propel the pair higher. Next major resistance lies at 200W MA at 1.0688 ahead of 50% Fib at 1.0730.
200H MA is strong support at 1.0592. Retrace below will see weakness. Next major support lies at 23.6% Fib at 1.0565.
