FxWirePro: AUD/NZD finds stiff resistance at 1.11, good to go long on break above

• AUD/NZD up 0.47% on the day, holds break above 50-DMA, bias higher.
   
• Technical studies on daily charts are biased higher, RSI and Stochs point north.
   
• MACD is on verge of a bullish crossover on signal line.
   
• The pair has held Weekly 20-SMA (1.10951) support on last week's trade and we see weakness only on break below.
   
• Currently the pair has retraced above 23.6% Fib of 1.03706 to 1.12899 rally at 1.1072.
   
• Upside finds stiff resistance at 4H 200-SMA at 1.1100 level, break above to see further upside.

Support levels - 1.1046 (4H 20-SMA), 1.1039 (5-DMA), 1.0975 (weekly 20-SMA)

Resistance levels - 1.11 (4H 200-SMA), 1.1140 (Nov 14 high), 1.12, 1.1290 (Oct 24 high)

Recommendation: Good to go long on break above 1.11, SL: 1.1040, TP: 1.1140/ 1.1160/ 1.12

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest