AUD/NZD chart - Trading View
Technical Analysis: Bias Bullish
- AUD/NZD was trading 0.12% higher on the day at 1.0557, slightly lower from session highs at 1.0575
- The pair is attempting a break above daily cloud top, which if confirmed will fuel further gains
- Momentum studies are bullish, Stochs and RSI are sharply higher, RSI is above 70 supporting upside
- MACD and ADX support bullish bias in the pair. Volatility is high and rising.
- Analysis of the GMMA indicator shows major trend is neutral, but minor trend is strongly bullish.
Support levels - 1.0531 (110-EMA), 1.0524 (5-DMA), 1.0483 (38.2% Fib)
Resistance levels - 1.0555 (cloud top), 1.0609 (61.8% Fib), 1.0653 (200-DMA)
Summary: AUD/NZD trades with a bullish bias. Cloud breakout will fuel further upside in the pair. Next major bull target lies at 61.8% Fib at 1.0609 ahead of 200-DMA at 1.0653.
