FxWirePro: AUD/NZD breaks above major resistance at 1.07 handle, bias higher, stay long

• AUD/NZD has shown a decisive breakout above 1.07 handle, raises scope for further upside. 
   
• Technical indicators on weekly and daily charts are highly bullish. Pair on track to test next resistance at 1.0765. 
   
• Violation at key resistance at 1.0765 would place the pair on track for substantial further gains.  
   
• On the flipside, close below 1.07 (major trendline resistance turned support) could see test of 1.0655 (38.2% Fib).

Support levels - 1.07, 1.0696 (5-DMA), 0.0655 (38.2% Fib retrace of 1.1333 to 1.0237 fall) 

Resistance levels - 1.0765, 1.0785 (50% Fib), 1.08

TIME  TREND INDEX  OB/OS INDEX  
 
1H          Bullish                Neutral       
4H          Bullish                Neutral       
1D          Bullish                Oversold       
1W         Bullish                 Neutral    

Call update: Our previous call (http://www.econotimes.com/FxWirePro-AUD-NZD-breaks-above-786-Fib-bias-higher-good-to-go-long-on-dips-537717) is approaching final targets. 

Recommendation: Hold for upside. Book partial profits at highs. Target 1.0785/ 1.08 on break above 1.0765. 

FxWirePro Currency Strength Index: ​FxWirePro's Hourly NZD Spot Index was at -73.8383(Bearish), while Hourly AUD Spot Index was at -24.5384 (Neutral) at 0715 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.