FxWirePro: AUD/NZD capped below 5-DMA, good to sell rallies

• AUD/NZD has held major trendline support at 1.0415 and edged higher.
   
• Upside finds stiff resistance at 1.0480 (5-DMA) and then 1.0521 (20-DMA).
   
• Technical studies support downside, bearish invalidation only on breakout above 20-DMA.
   
• Support levels - 1.0439 (seeion low), 1.0415 (trendline), 1.0363 ((Nov 9 lows), 1.0312 (July 8 lows)
   
• Resistance levels - 1.0480 (5-DMA), 1.05, 1.0521 (20-DMA)
   

Recommendation: Good to sell rallies around 1.0455/60, SL: 1.05, TP: 1.0415/ 1.04/ 1.0370
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FxWirePro's Hourly AUD Spot Index was at -49.8211 (Neutral), while Hourly NZD Spot Index was at -95.8121 (Bearish) at 0511 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex