Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.19% higher on the day at 1.1102 at around 04:45 GMT
- The pair is extending daily cloud breakout, scope for further upside
- MACD confirms bullish crossover on signal line, ADX supports upside
- Momentum is bullish, Stochs and RSI are biased higher and RSI is above the 50 mark
- GMMA indicator shows major and minor trend are bullish
Support levels:
S1: 1.1074 (5-DMA)
S2: 1.1045 (21-EMA)
Resistance levels:
R1: 1.1104 (Upper BB)
R2: 1.1168 (June 16 high)
Summary: The pair's decisive break above cloud has opened further upside potential. The pair is on track to retest of yearly high at 1.1168. Continued bullish momentum could see further gains.
