AUD/NZD chart - Trading View
AUD/NZD is extending previous session's spike and bounce off 21-EMA, scope for further upside.
The pair was trading 0.40% higher on the day at 1.0781 at around 11:25 GMT, is on track to close higher for the 3rd straight week.
Technical bias has turned bullish after price action has bounced off 21-EMA support and daily cloud.
Oscillators are biased sharply higher. RSI is above 60, shows strength in the current uptrend.
MACD and ADX supports gains. Price action has retraced dip below 200W SMA. Bollinger bands are widening suggesting rising volatility.
Bullish momentum and rising volatility to carry prices higher. Scope for test of major trendline resistance at 1.08.
21-EMA is strong support at 1.0688. Break below will see minor weakness. Bullish invalidation only below 200-DMA
Support levels - 1.0721 (5-DMA), 1.0688 (21-EMA)
Resistance levels - 1.0825 (Trendline), 1.0880 (June 2nd high)
