AUD/NZD chart - Trading View
Technical Analysis: Bias Bullish
- AUD/NZD was trading 0.13% higher on the day at 1.0773 at around 10:00 GMT
- The pair is extending 200-DMA breakout and is testing cloud resistance
- Momentum with the bulls, Stochs and RSI are strongly bullish, RSI well above the 50 mark
- MACD shows bullish crossover on signal line, supporting upside in the pair
- Price action has shown a decisive break above 200W MA and weekly cloud
- Volatility is high and rising as evidenced by widening Bollinger bands
Support levels - 1.0742 (55-EMA), 1.0725 (200-DMA), 1.0716 (20-DMA)
Resistance levels - 1.0821 (Previous week high), 1.09, 1.0951 (110-month EMA)
Summary: AUD/NZD trades with a bullish bias. Breakout above cloud will propel the pair higher. Bullish invalidation only below 200-DMA.
