FxWirePro: AUD/NZD extends gains above 38.2% Fib, bias higher, stay long

AUD/NZD chart - Trading View 

• AUD/NZD extends gains above 38.2% Fib, intraday bias bullish.
   
• The pair is trading 0.11% higher on the day at 1.0583 at 0645 GMT.
   
• Price action has broken above daily cloud and major moving averages.
   
• Technical indicators are bullishly aligned. Momentum with the bulls.
   
• Next major bull target lies at 200-DMA at 1.0693. Further upside only on break above.
   
• 5-DMA is support at 1.0544, break below will see dip till 110-EMA at 1.0523. Bullish invalidation below 21-EMA.

Support levels - 1.0544 (5-DMA), 1.0523 (110-EMA), 1.0450 (21-EMA)

Resistance levels - 1.0683 (50% Fib), 1.0697 (200-DMA), 1.08 (61.8% Fib)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-NZD-breaks-above-110-EMA-eyes-382-Fib-at-10567-1521477) has hit TP1.

Recommendation: Book partial profits at highs, stay long for further upside.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.