AUD/NZD has been trading a symmetrical triangle pattern and the pair has broken strong resistance at 1.0875 (triangle top).
- RSI strength seen at 63, with further room to run, momentum studies are bullish.
- Major moving averages are biased higher and we see a bullish 5-DMA crossover on 10-DMA.
- Supports are located at S1: 1.0860 (trendline), S2: 1.0849 (5-DMA), S3: 1.0812 (10-DMA).
- On the topside, resistances are seen at 1.0970 (Mar 29th high), R2: 1.1086 (double top 2015 Nov 24th and 25th highs).
Recommendation: Good to go long on dips around 1.0930/40, SL: 1.0860, TP: 1.0970/1.1/1.1085
