AUD/NZD chart - Trading View
Technical Analysis: Bias Neutral
- AUD/NZD is extending sideways along 200-DMA
- Upside in the pair capped at cloud top, breakout of cloud required for upside continuation
- 'Death Cross' (bearish 50-DMA crossover on 200-DMA) weighs on the upside
- GMMA indicator on weekly and daily charts shows near-term trend is bullish while major trend is neutral
- Stiff resistance on the upside aligns at cloud top, 200W MA and 200-DMA at 1.0688. Decisive breakout will see further gains.
Support levels - 1.0673 (5-DMA), 1.0606 (50-DMA), 1.0583 (Cloud base)
Resistance levels - 1.0688 (converged cloud top, 200W MA and 200-DMA), 1.0730 (50% Fib), 1.08 (61.8% Fib)
Summary: The antipodeans remain volatile amid wavering risk sentiment in the markets. Major bias remains neutral and decisive break above cloud could change near-term dynamics.
