FxWirePro: AUD/NZD capped below major trendline resistance at 1.1150, upside only on break above

• Antipodeans subdued on risk-aversion on escalating tensions after N.Korea successfully tested its sixth nuclear bomb.
   
• AUD/NZD is trading in a narrow range with day's high at 1.1120 and low at 1.1087.
   
• Upside remains capped below major trendline resistance at 1.1150, we see further upside only on break above.
   
• Next major resistance above 1.1150 lies at 1.1173 (78.6% Fib retrace of 1.1429 to 1.0237 fall).
   
• RSI is showing a retrace from near overbought levels and Stochs are in highly overbought territory.
   
• Some consolidation likely at current levels. Bullish invalidation seen on close below 5-DMA.

Support levels - 1.1044 (5-DMA), 1.0973 (61.8% Fib of 1.4129 to 1.0237 fall), 1.0928 (Aug 29 low), 1.09 (20-DMA)

1.0912 (23.6% Fib retrace of 1.37951 to 1.00204 fall)

Resistance levels - 1.1141 (Sept 1 high), 1.1175 (78.6% Fib retrace of 1.1429 to 1.0237 fall), 1.12

Call update: Our previous call (http://www.econotimes.com/FxWirePro-AUD-NZD-breaks-triangle-top-on-track-to-test-786-Fib-at-11175-stay-long-878746) has hit TP1.

Recommendation: Book partial profits at highs. Watch out for break above 1.1150 for further upside.

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 109.104 (Bullish), while Hourly NZD Spot Index was at -140.379 (Bearish) at 0650 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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