FxWirePro: AUD/NZD bulls relentless, hits 5-month highs at 1.0729, 200-DMA breakout to fuel further gains

AUD/NZD chart - Trading View 

• AUD/NZD bulls test 200-DMA resistance at 1.0684, hits 5-month high at 1.0729.
   
• The pair is extending gains for the 4th straight week, break above 200-DMA to fuel further upside.
   
• RSI is at highly overbought levels and we advise caution as pullback would be likely.
   
• 5-DMA is immediate support at 1.0634. Break below will see dip till 110-EMA at 1.0534.
   
• Decisive breakout at 200-DMA eyes 200W SMA at 1.0753 and then 61.8% Fib at 1.08. 

Support levels - 1.0634 (5-DMA), 1.0567 (38.2% Fib), 1.0534 (110-EMA)

Resistance levels - 1.07, 1.0753 (200W SMA), 1.08 (61.8% Fib)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-NZD-breaks-above-110-EMA-eyes-382-Fib-at-10567-1521477) has hit all targets.

Recommendation: Watch out for decisive break above 200-DMA to go long, target 1.08

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.