Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/NZD bulls test cloud resistance, bullish momentum to drive further gains

AUD/NZD chart - Trading View 

Technical Analysis: Bias Bullish

- AUD/NZD extends bull run for the 6th straight session

- The pair is testing cloud resistance at 1.0480, break into cloud will see further gains

- Supertrend indicator flashes a Buy signal, MACD and ADX support gains

- GMMA indicator shows minor trend is strongly bullish, momentum is bullish

- Price action has broken above 55-EMA and volatility is high

Support levels - 1.0446 (55-EMA), 1.0430 (5-DMA), 1.0386 (21-EMA)

Resistance levels - 1.0491 (Cloud base), 1.0533 (110-EMA), 1.0546 (50% Fib)

Summary: AUD/NZD is poised for further upside. Cloud is offering stiff resistance, watch out for break above for upside continuation. Scope for test of 50% Fib at 1.0546. 
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.