Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.11% higher on the day at 1.1004 at around 13:45 GMT
- The pair has trimmed some of the initial gains and has slipped lower from new 3-month highs at 1.1030
- Momentum is bullish and volatility is high and rising, scope for further upside
- GMMA indicator shows major and minor trend are bullish on the daily charts
- MACD and ADX support upside in the pair, price action is above cloud and Chikou span is biased higher
Support levels:
S1: 1.0952 (5-DMA)
S2: 1.0892 (110-EMA)
Resistance levels:
R1: 1.0998 (200-DMA)
R2: 1.1037 (Upper BB)
Summary: AUD/NZD trades with a bullish bias. Watch out for decisive break above 200-DMA for further gains.
