AUD/NZD chart - Trading View
Technical Analysis: Bias turning bullish
- Price action has shown a bounce off 200-DMA and cloud support
- GMMA indicator shows short-term trend is turning bullish, major trend is neutral
- RSI has turned and Stochs are on verge of rollover from oversold levels
- Price action is within a rising wedge pattern and bounce off 200-DMA keeps scope for upside resumption
- The pair is attempting break above 55-EMA which will fuel further gains
Support levels - 1.0781 (55-EMA), 1.0759 (5-DMA), 1.0743 (200-DMA)
Resistance levels - 1.0798 (21-EMA), 1.0813 (20-DMA), 1.0961 (110-month EMA)
Summary: AUD/NZD finds major support at 200-DMA, any further weakness only on break below. Decisive break above 55-EMA will confirm upside resumption.
