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FxWirePro: AUD/NZD Technical Analysis

Chart - Courtesy Trading View 

Technical Analysis: Bias Bullish

- AUD/NZD was trading 0.23% higher on the day at 1.1014 at around 15:50 GMT

- The pair has paused 3-day downside and edged higher as bear fail to extend break below 200H MA

- Stochs are showing a bearish rollover from oversold levels, but RSI holds above 50 mark

- Upside remains capped at 5-DMA, break above will fuel further gains

- Major trend in the pair is bullish as evidenced by GMMA indicator

Support levels:

S1: 1.0950 (21-EMA)

S2: 1.0855 (55-EMA)

Resistance levels:

R1: 1.1036 (5-DMA)

R2: 1.1079 (Upper BB)

Summary: AUD/NZD recovery is capped at 5-DMA. Watch out for break above for upside resumption. 
 

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