FxWirePro: AUD/NZD faces major trendline resistance at 1.075, good to go long on break above

• AUD/NZD bounces off 20-DMA support at 1.0626 on Tuesday's trade.
   
• The pair is up 1.03% on the day till now after Aussie was buoyed by upbeat data.
   
• Australia Q4 GDP Q/Q increase to 1.1%, beating forecast for 0.7% rise vs previous -0.5%.
   
• China's manufacturing activity gained momentum in February, Caixin manufacturing PMI rose to 51.7 last month from 51.0 in January. 
   
• The pair finds major trendline resistance at 1.075, break above to see further upside.

Support levels - 1.0678 (5-DMA), 1.0626 (20-DMA), 1.0616 (Feb 28 low)

Resistance levels - 1.0768 (50% Fib retrace of 1.1298 to 1.0237 fall), 1.08, 1.0874 (Feb 25, 2016 high)

TIME  TREND INDEX  OB/OS INDEX    

1H          Bullish                Overbought       
4H          Bullish                Neutral       
1D          Bullish                Neutral        
1W         Bullish                Neutral      

Recommendation: Good to go long on decisive break above 1.0750, SL: 1.0675, TP: 1.0770, 1.08/ 1.0875

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 39.2548(Neutral), while Hourly NZD Spot Index was at -63.1098 (Bearish) at 0730 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.