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Chart - Courtesy Trading View
Technical Analysis: Bias Bullish
- AUD/NZD was trading 0.22% higher on the day at 1.0760 at around 12:00 GMT
- Price action has broken above weekly cloud raising scope for further gains
- Momentum is strongly bullish, stochs and RSI are sharply higher
- MACD and ADX support gains, Chikou span is biased higher
- GMMA indicator shows major and minor trend are strongly bullish
Support levels - 1.0720 (5-DMA), 1.0702 (200H MA), 1.0662 (21-EMA)
Resistance levels - 1.08, 1.0812 (June 2021 high), 1.0830 (channel top)
Summary: AUD/NZD trades with a strong bullish bias. Scope for test of channel top at 1.0830.
