AUD/NZD chart - Trading View
AUD/NZD was trading 0.28% higher on the day at 1.0656 at around 09:30 GMT.
The pair is extending gains for the 2nd straight session as price action bounces off trendline support.
Stochs and RSI are on verge of rollover into neutral from oversold territory. The pair has broken above 5-DMA.
Data released earlier today showed China NBS Manufacturing PMI eased below 51.1 forecast and prior to 51.1 in May.
China Non-Manufacturing PMI printed at 55.2, beating consensus at 52.7 and 54.9 previous readouts.
Further, the Australia and New Zealand Banking Group’s (ANZ) Business Confidence and Activity Outlook for May dropped below 7 and 32.3% levels to 1.8 and 27.1% respectively.
Major technical bias for the pair remains bearish. Recovery seems to be capped at 5-DMA. Upside continuation only on break above 200W MA.
