FxWirePro: AUD/NZD struggles at 61.8% Fib, further gains only on break above

• AUD/NZD extends upside for 6th successive week, hits fresh 5-month highs at 1.0982.
   
• Rise in crude oil prices supporting the antipodeans. Also, improved risk sentiment buoying the Aussie.
   
• The pair is struggling at 61.8% Fib retrace of 1.1429 to 1.0237 fall at 1.0973.
   
• Technical studies are still bullish, break above 61.8% Fib will then see further upside.
   
• However, Stochs are at overbought levels and we could see some correction in the pair.
   
• Price action hovering around 5-DMA at 1.0957, close below could see drag till 20-DMA at 1.0828.

Support levels - 1.0957 (5-DMA), 1.09, 1.0890 (Trendline),

Resistance levels - 1.0973 (61.8% Fib of 1.4129 to 1.0237 fall), 1.10, 1.1018 (Mar 16 high)

Call update: Our previous call (http://www.econotimes.com/FxWirePro-AUD-NZD-breaks-major-resistance-at-10890-bias-higher-stay-long-864875) has hit TP1&2.

Recommendation: Book partial profits at highs, raise SL to 1.0920, hold for upside.

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