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FxWirePro: AUD/NZD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Neutral

- AUD/NZD consolidates above 200-DMA, upside remains capped at 200-week MA

- GMMA indicator shows major trend is bullish, while minor trend is turning bullish

- RSI is above 50, biased higher, Stochs are biased lower

- Price action is above cloud and Chikou span is biased higher

- Bollinger bands are constricting, volatility is low

Support levels - 1.0603 (5-DMA), 1.0579 (21-EMA), 1.0566 (200-DMA)

Resistance levels - 1.0628 (200-week MA), 1.0635 (Upper BB), 1.0650 (Jan 5th high)

Summary: AUD/NZD struggles at 200-week MA, decisive break above required for upside continuation. Technical studies are inconclusive. Retrace below 200-DMA will see more downside. 
 

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