AUD/NZD chart - Trading View
Technical Analysis: Bias turning Bullish
- AUD/NZD was trading 0.05% higher at 1.0757 at around 10:20 GMT
- The pair has held support at 5-DMA, erased early losses and edged higher from session lows at 1.0736
- Price action has edged above daily cloud raising scope for further upside
- Stochs and RSI are biased higher and RSI is above 50 mark, supporting the current uptrend
- The pair has edged above monthly cloud and is on track to test 110 month EMA at 1.0962
Support levels - 1.0735 (5-DMA), 1.0719 (200-DMA), 1.0704 (55-EMA)
Resistance levels - 1.0780 (Triangle top), 1.0827 (Feb 23 high), 1.0962 (110 month EMA)
Summary: AUD/NZD is set to resume upside after the pair has shown a break out of daily cloud. Next immediate hurdle lies at Triangle top at 1.0780. Break above targets 110 month EMA at 1.0962.
