Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/NZD bounces off 21-EMA support, scope for upside resumption

AUD/NZD chart - Trading View 

AUD/NZD on track to close higher for the 3rd straight session.

The pair was trading 0.47% higher on the day at 1.0744 at around 13:00 GMT.

Technical bias has turned bullish after price action has bounced off 21-EMA support and daily cloud.

Oscillators are biased higher. RSI is above 60, shows strength in the current uptrend.

MACD and ADX supports gains. Price action has retraced dip below 200W SMA.

Rising volatility and bullish momentum to carry prices higher. Scope for test of major trendline resistance at 1.08.

21-EMA is strong support at 1.0679. Break below will see minor weakness. Bullish invalidation only below 200-DMA

Support levels - 1.0709 (5-DMA), 1.0679 (21-EMA)

Resistance levels - 1.0745 (55 M EMA), 1.0825 (Trendline)
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.