FxWirePro: AUD/NZD finds strong support at 20-DMA, weakness only on break below

• AUD/NZD halts 2 day's upside, slips lower from session highs at 1.1090.
   
• The pair currently hovers around 5-DMA at 1.1040, finds strong support at 20-DMA at 1.1016.
   
• Technical studies on intraday charts are neutral with no clear directional bias.
   
• On weekly charts the pair finds stiff resistance at 1.1155 (major trendline).
   
• Break below 20-DMA could see drag till 23.6% Fib at 1.0961 and then 38.2% Fib at 1.0848.
   
• On the flipside only decisive break above 1.1155 (trendline) could see further upside.

Support levels - 1.1015 (20-DMA), 1.0961 (23.6% Fib retrace of 1.03706 to 1.11437 rally), 1.0802 (50-DMA)

Resistance levels - 1.1040 (5-DMA), 1.11, 1.1155 (trendline)

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -84.7488 (Bearish), while Hourly NZD Spot Index was at -85.4722 (Bearish) at 0740 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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