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Chart - Courtesy Trading View
Technical Analysis:
- AUD/NZD was trading 0.13% higher on the day at 1.1159 at around 07:40 GMT
- The pair is extending upside for the 5th straight session, outlook is bullish
- Momentum is bullish, Stochs and RSI are sharply higher, RSI is well above the 50 mark
- Price action is above cloud and Chikou span is biased higher
- MACD is on verge of bullish crossover on signal line, ADX supports upside
Support levels:
S1: 1.1123 (5-DMA)
S2: 1.1085 (21-EMA)
Resistance levels:
R1: 1.1179 (2022 high)
R2: 1.12
Summary: AUD/NZD trades with a bullish bias. Daily cloud is offering strong support, weakness only on break below. Scope for new yearly highs above 1.1179.
