AUD/NZD chart - Trading View
AUD/NZD was trading 0.04% higher on the day at 1.0715 at around 08:00 GMT.
The pair is extending gains for the 6th straight session, but long upper wicks on daily candles suggests some selling pressure at highs.
Price action has bounced off channel base support, the pair has recovered most of last week's losses.
The pair is trading 0.83% higher for the week, but recovery attempts are finding stiff resistance at 200-DMA and 21W EMA.
Bullish MACD line crossover on signal line raises scope for upside. 5-DMA also is now biased higher.
Stochs and RSI have rolled over from oversold territory. Decisive break above 200-DMA will fuel further upside.
Support levels - 1.07, 1.0685 (5-DMA), 1.0671 (200H MA)
Resistance levels - 1.0728 (200-DMA), 1.0740 (110-EMA), 1.0793 (Cloud base)
Summary: AUD/NZD has paused recovery at 200-DMA, decisive break above required for further upside. Next hurdle for bulls aligns at daily cloud. Rejection at 200-DMA negates any bullish bias.
