Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.21% higher on the day at 1.0761 at around 06:10 GMT
- After extending sideways grind below daily cloud, the pair is poised for upside resumption
- Price action has edged above 200H MA, GMMA indicator has turned bullish on the intraday charts
- MACD confirms bullish crossover on signal line, Chikou span is biased higher
- Momentum is bullish, Stochs and RSI are biased higher, volatility is high
Support levels:
S1: 1.0732 (5-DMA)
S2: 1.0701 (200-week MA)
Resistance levels:
R1: 1.0762 (21-EMA)
R2: 1.0813 (55-EMA)
Summary: AUD/NZD pauses at 21-EMA resistance, decisive break above to fuel further gains. Next major resistance lies at daily cloud, break above required for further gains.
