• AUD/NZD trades above its wide range channel (between 1.0895 and 1st July highs of 1.1429). AUD has been surprisingly resilient today despite plunge in commodities.
  
  
• The pair has broken above 55 DMA at 1.0923 and is currently trading at 1.0931, a close for the week above 1.0895 will affirm bullish bias, a recovery back above the 1.10 handle in sight.
  
  
• Immediate supports on the downside are located at 1.0905 (50 DMA) and then at 1.0849 (38.2% of post jobs bounce).
  
  
• Some consolidation cloud be seen around channel base. Pullbacks could be seen towards 200 DMA at 1.0767. Break below 200 DMA at 1.0767 could invalidate bullish bias.
  
  

Recommendation: Go long AUD/NZD on close above 1.0895, SL: 1.0840, TP1: 1.0980, TP2: 1.10

RES: 

R1: 1.0982 (Oct 13 high)

R2: 1.0987 (Oct 6 high)

R3: 1.10 (Psychological level)

SUP:

S1: 1.0905 (50 DMA)

S2: 1.0849 (38.2% of post jobs)

S3: 1.0767 (200 DMA)

S4: 1.0740 (Tenkan Sen)