AUD/NZD chart - Trading View
AUD/NZD was trading 0.15% higher on the day at 1.0900 at around 13:55 GMT.
The pair has ignored Doji formation on the previous day's candle and is extending grind higher.
Technical indicators for the pair have turned bullish after breakout of Symmetric Triangle pattern.
Analysis of GMMA indicator shows major and minor trend are bullish on the daily and weekly charts.
Volatility is rising as evidenced by widening Bollinger bands. MACD and ADX support upside in the pair.
Antipodeans buoyed after AstraZeneca confirmed the efficacy of its vaccines to combat the coronavirus (COVID-19) and its variants during the phase 3 trials.
Official updates from the pharma major confirmed 100% efficacy against severe and critical disease as well as 85% efficacy for those aged 65+.
| Support | 1.0855 (5-DMA) | 1.0821 (200H MA) |
| Resistance | 1.0965 (110-month EMA) | 1.1043 (2020 high) |
Summary: Price action is currently struggling at major trendline resistance at 1.0935. Breakout will propel the pair higher.
Next major resistance lies at 110-month EMA at 1.0965. Failure to break above trendline resistance dents upside.
