FxWirePro: AUD/NZD capped at 110-EMA (1.0753), break above to see further upside

• AUD/NZD holds support at 55-EMA at 1.0686, we see weakness only on break below.
   
• The pair has resumed upside, breaks out of consolidation, trades 0.32% higher on the day.
   
• Technical studies are biased higher. RSI shows strength above 64 and momentum studies are bullish.
   
• We see +ve DMI dominance and MACD supports upside. Weakness only on break below 55-EMA.
   
• Break above daily cloud finds next major resistance at 200W SMA at 1.0758. Break above required for further gains.
   
• On the flipside, we see weakness on break below 55-EMA, scope then for test of 21-EMA at 1.0661.

Support levels - 1.0705 (5-DMA), 1.0686 (55-EMA), 1.0632 (20-DMA)

Resistance levels - 1.0759 (200W SMA), 1.0781 (100-DMA), 1.0794 (38.2% Fib)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-NZD-extends-gains-above-107-handle-bias-higher-stay-long-1289911) has hit TP1.

Recommendation: Book partial profits at highs. Watchout for break above 110-EMA for further upside.

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