FxWirePro: AUD/NZD resumes upside after a brief pause, eyes 200-DMA at 1.069
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…
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)
