, break above invalidates bearish bias - EconoTimes)
- AUD/NZD has bounced-off from major triangle base support on Wednesday's trade.
- Better-than-expected Australia jobs headline data likely supporting upside in the Aussie.
- AUD/NZD is up 0.45% on the day till now. Upside finds stiff resistance by 20-DMA at 1.0464.
- Our previous call (http://www.econotimes.com/FxWirePro-AUD-NZD-on-track-to-break-triangle-base-support-good-to-short-rallies-448820) has achieved TP1.
- Decisive breakout above could invalidate our bearish bias. Test of triangle top at 1.0515 then likely.
- Support levels - 1.0422 (5-DMA), 1.04, 1.0385 (triangle base), 1.0377 (Dec 8 low)
- Resistance levels - 1.0464 (20-DMA), 1.0496 (Dec 7 high), 1.0515 (triangle top)
FxWirePro's Hourly AUD Spot Index was at 31.724 (Neutral), while Hourly NZD Spot Index was at -77.962 (Bearish) at 0505 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
