• AUD/NZD firming up into European open as Kiwi remains in the red, paid no heed to the Chinese release
  
  
• Mood takes turn for the better after Chinese GDP release, Aussie gained the most from the sudden turnaround in risk-sentiment 
  
  
• Traders now assess the downbeat industrial production and fixed asset investment data from China, thereby capping further upside in the Aussie
  
  
• AUD/NZD is looking to secure foothold above 1.07, currently trading at 1.0698, day's range 1.0656/1.0706
  
  
• Breach of 1.07 finds resistance at 1.0707 which is 50% fibo retracement of 2015 rally and then 5-DMA at 1.0731 sits just ahead of 1.0737 Friday top
  
  
• The pair is trading in a highly oversold zone, charts show likelihood of correction higher, RSI biased higher
  
  
• Strong support on the downside is seen at 1.066 (weekly cloud base), bullish invalidation only below 1.065 
  
  

Recommendation: Good to go long AUD/NZD around 0.70, SL: 1.065, TP: 0.0745