FxWirePro: AUD/NZD holds 5-DMA support, intraday bias bullish

AUD/NZD chart - Trading View 

• AUD/NZD edges higher from session lows at 1.0581, bias higher.
   
• The pair is trading at 1.0612 at 1235 GMT, up 0.11% at the time of writing.
   
• Price action is above major EMAs and daily cloud. Technical indicators support further upside.
   
• The pair is holding above 38.2% Fib and we see scope for test of 200-DMA at 1.0686.
   
• Kiwi traders await inflation numbers. Weak inflation data could fuel RBNZ rate cut bets.
   
• The annual rate of CPI is forecast to moderate from 1.9% y/y in Q4 to 1.7% in Q1. On a quarterly basis, CPI is expected to have increased by 0.3%.

Support levels - 1.0591 (5-DMA), 1.0528 (110-EMA), 1.05

Resistance levels - 1.0686 (200-DMA), 1.07, 1.08 (61.8% Fib)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.