- AUD/NZD has broken major resistance at 1.066 levels (38.2% Fib, major trendline).
- Technical studies are bullish, MACD and Stochs are biased higher.
- Some caution advised as Stochs are in extreme overbought territory, RSI strength at 72 levels.
- Strong support at 1.05 levels, we see weakness only on break below.
- Major support levels - 1.0655 (38.2% Fib of 1.1333 to 1.0237 fall), 1.06 (10-DMA), 1.0502 (20-DMA)
- Major resistance levels - 1.0743 (Aug 9 high), 1.0771 (July 19 high), 1.0785 (50% Fib), 1.0806 (May 17 high)
Recommendation: Good to go long on dips around 1.07, SL: 1.0650, TP: 1.0740/ 1.0770/ 1.08
