FxWirePro: AUD/NZD upside halts shy of major trendline resistance at 1.0830, bias higher

• Mixed Chinese macro news continued to undermine the sentiment around New Zealand dollar.
   
• Rising risk-off moods amid fresh geopolitical tensions between the US and North Korea keep higher-yielding currencies like NZD under pressure.
   
• AUD/NZD upside halts shy of major trendline resistance at 1.0830 after break above 61.8% Fib at 1.0771.
   
• Technical indicators on weekly charts are bullish, RSI strong above 50, Stochs are biased higher and MACD is on verge of bullish crossover.
   
• We see weakness only on break below Ichi cloud top at 1.0653. Bullish invalidation seen on decisive break below 200-DMA at 1.0612.

Support levels - 1.0723 (5-DMA), 1.0679 (20-DMA), 0.1660 (100-DMA), 1.0618 (38.2% Fibo 1.10188 to 1.03706 fall)

Resistance levels - 1.0771 (61.8% Fib retrace of 1.1018 to 1.0370 fall), 1.08, 1.0830 (trendline)

Call update: Our previous long call (http://www.econotimes.com/FxWirePro-AUD-NZD-breaks-100-DMA-at-10671-eyes-trendline-at-10830-stay-long-833838) has hit TP1&2.

Recommendation: Bias higher, hold for further upside.

FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at -47.9552 (Neutral), while Hourly NZD Spot Index was at -89.1712 (Bearish) at 0730 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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