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FxWirePro: AUD/NZD Daily Technical Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Neutral

- AUD/NZD was trading 0.40% higher on the day at 1.0710 at around 13:00 GMT

- The pair has retraced most of the previous session's losses, scope for further gains

- Price action has found strong support at 55-EMA and daily cloud, weakness only on break below

- MACD and ADX support weakness in the pair. Price action is still below 200H MA

- GMMA indicator shows major trend is bullish on the daily charts, while minor trend has turned bullish on the hourlies

Support levels - 1.07, 1.0684 (Cloud top), 1.0670 (55-EMA)

Resistance levels - 1.0717 (21-EMA), 1.0727 (20-DMA), 1.0732 (200H MA)

Summary: AUD/NZD halts downside at 55-EMA and daily cloud support. Weakness only on breach below. On the flipside, breakout above 200H MA will see upside resumption. 
 

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