FxWirePro: AUD/NZD holds major trendline support at 1.080, weakness only on break below

• AUD/NZD edges higher after holding major trendline support at 1.080.
   
• We see further weakness only on break below.
   
• Price action in the pair is raging above daily cloud and all major moving averages.
   
• RSI is also holding above 50 mark and Stochs are at oversold region. 
   
• On the flipside, break above 5-DMA could see near-term reversal in trend.

Support levels - 1.080 (trendline), 1.0778 (Mar 6 lows), 1.0681 (50-DMA)

Resistance levels - 1.0846 (5-DMA), 1.0875 (20-DMA), 1.09, 1.0907 (1H 200-SMA)

TIME  TREND INDEX  OB/OS INDEX    

1H          Bearish               Neutral       
4H          Neutral               Neutral       
1D          Neutral               Neutral        
1W         Bearish               Neutral      

Recommendation: Watchout for break above 5-DMA at 1.0846 to go long.

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -146.6 (Bearish), while Hourly NZD Spot Index was at -95.0228 (Bearish) at 0730 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.