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AUD/NZD chart - Trading View
- AUD/NZD has resumed upside after brief pause on Tuesday's trade.
- Aussie buoyed across the board after speech from RBA’s Debelle and positive data.
- Australian Westpac consumer confidence index that surged to +1.9% versus -4.8% previous contraction.
- Reserve Bank of Australia Assistant Governor Guy Debelle praised economic growth and noted that the domestic labor market has been surprisingly strong.
- The pair is trading 0.21% higher on the day at 1.0581 at 0855 GMT, bias bullish.
- Technical indicators are biased higher. RSI strength above 70 levels. Momentum studies are bullish.
- Scope for test of 200-DMA at 1.0691. Further gains only on break above.
- Immediate support lies at 5-DMA at 1.0557. Break below 110-EMA to see weakness.
Support levels - 1.0557 (5-DMA), 1.0523 (110-EMA), 1.0456 (55-EMA)
Resistance levels - 1.06, 1.0691 (200-DMA), 1.070
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
