AUD/NZD chart - Trading View
Technical Analysis: Bias turning bullish
- AUD/NZD was trading 0.25% higher on the day at 1.0784 at around 09:45 GMT
- The pair is extending gains for the 2nd straight session
- A Doji formation on the previous week's candle raises scope for upside
- Price action has bounced off Wedge base and has retraced above 200-DMA
- The pair has re-entered daily cloud and is hovering around 21-EMA
- MACD is on verge of bullish crossover on signal line
- RSI is at 50 mark and is biased higher, Stochs are on verge of bullish rollover from oversold
Support levels - 1.0779 (21-EMA), 1.0745 (200-DMA), 1.0720 (Wedge base)
Resistance levels - 1.0788 (20-DMA), 1.0815 (Cloud top), 1.0888 (Upper W BB)
Summary: Technical indicators are turning bullish. Decisive close above 21-EMA will reinforce upside bias. Scope for upside resumption in rising wedge pattern.
