FxWirePro: AUD/NZD extends bullishness above 200-DMA, bias higher, stay long

• AUD/NZD extends upside after break above 200-DMA, bias higher.
• Price action has broken above daily cloud and we see scope for test of trendline at 1.075.
• Narrowing of the NZ-US yield spread after Trump's comments on tax concessions is weighing heavily over the Kiwi. 
• RBNZ assistant governor and chief economist McDermott talked down the domestic currency.
• Reserve Bank of New Zealand's Governor Wheeler said cash rate likely to stay low. 

Support levels - 1.0594 (session low), 1.0555 (cloud top), 1.0525 (200-DMA)

Resistance levels - 1.0641 (session high), 1.0670 (78.6% Fib), 1.07, 1.0750 (trendline)

TIME  TREND INDEX  OB/OS INDEX    

1H          Bullish                Neutral       
4H          Bullish                Overbought       
1D          Bullish                Neutral        
1W         Bullish                Neutral    
  
Call update: Our previous call (http://www.econotimes.com/FxWirePro-AUD-NZD-spikes-above-200-DMA-to-hit-multi-week-highs-at-10596-good-to-go-long-on-dips-531430) has hit TP1 .

Recommendation: We recommend holding for upside.

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 104.588(Bearish), while Hourly NZD Spot Index was at -64.9251 (Neutral) at 0940 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.