- AUD/NZD stalled its sharp upside and is now consolidating in a narrow range.
- The pair struggling to hold gains above 1.07 handle, slips lower to currently trade at 1.0691.
- Technical indicators support upside in the pair. Breakout above 1.07 will see test of 1.0765.
- On the flipside, close below 50-DMA at 1.0656 could see retrace upto 1.0523 (20-DMA)
Support levels - 1.0622 (5-DMA), 0.16, 1.0597 (61.8% Fib)
Resistance levels - 1.07, 1.0715 (88.6% Fib), 1.0745 (falling trendline)
TIME TREND INDEX OB/OS INDEX
1H Bearish Neutral
4H Neutral Neutral
1D Bullish Near Overbought
1W Bullish Neutral
Call Update: Our previous call (http://www.econotimes.com/FxWirePro-AUD-NZD-breaks-above-786-Fib-bias-higher-good-to-go-long-on-dips-537717) has hit TP1.
Recommendation: Book partial profits. Hold for upside.
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 54.2712(Slightly Bullish), while Hourly NZD Spot Index was at 57.8025 (Slightly Bullish) at 0620 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
