- AUD/NZD struggles to extend gains above 1.07, decisive breakout above needed for further upside.
- The pair has edged above 5-DMA and is up 0.36 percent on the day.
- Technical indicators still support upside, we do not see definite signs of reversal.
- Breakout above 1.07 will see test of 1.0765. On the flipside, close below 50-DMA at 1.0656 could see retrace upto 1.0523 (20-DMA)
Support levels - 1.0674 (5-DMA), 0.06, 1.0597 (61.8% Fib)
Resistance levels - 1.0715 (88.6% Fib), 1.0743 (Aug 8,9 2016 high), 1.0756 (Oct 26 high)
TIME TREND INDEX OB/OS INDEX
1H Bullish Neutral
4H Bullish Neutral
1D Neutral Neutral
1W Bullish Neutral
FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at -39.7943(Neutral), while Hourly AUD Spot Index was at -24.2964 (Neutral) at 0715 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
