AUD/NZD chart - Trading View
AUD/NZD was trading 0.07% higher on the day at 1.0728 at around 05:45 GMT, bias higher.
The pair has edged above 200-DMA and close above will add to the bullish bias.
Momentum indicators are bullish with Stochs and RSI trending North and RSI edging above 50 mark.
Analysis of GMMA indicator shows near-term moving averages have crossed above long term moving averages.
Bullish 5-DMA crossover on 20-DMA supports bullish bias. Aussie also takes cues from Australia Treasury Secretary Kennedy's upbeat comments.
The pair has retraced dip below daily cloud with Spinning Top formation at lows. MACD shows a bullish crossover on signal line.
Support levels - 1.0679 (21-EMA), 1.0642 (200H MA), 1.06
Resistance levels - 1.0718 (200-DMA), 1.0759 (Nov 5th high), 1.08
Summary: AUD/NZD trades with a bullish bias. Watch out for close above 200-DMA for further gains. Next bull target lies at 1.0825 (major trendline resistance).
