- AUD/NZD builds on previous week's gains, up 0.13 percent on the day till now.
- The pair is trading with a bullish bias, scope for test of 200-DMA at 1.0714.
- The pair has broken series of major resistances - 1.0485 (50-DMA), 1.0490 (50% Fib), 1.05 (trendline).
- Upside is struggling at 100-DMA currently at 1.0528, break above could see upside gain traction.
- Major support levels - 1.05 (trendline), 1.0490 (50% Fib), 1.0485 (50-DMA)
- Major resistance levels - 1.0550 (61.8% Fib), 1.06, 1.0635 (78.6% Fib, double top July 28 & Aug 4), 1.0714 (200-DMA)
Recommendation: Long breakout above 100-DMA at 1.0528, SL: 1.0430, TP: 1.0550/ 1.0635/ 1.0714
