FxWirePro: AUD/NZD rejected at highs, holds above 5-DMA, weakness only on break below

• AUD/NZD struggles to holds break above major trendline resistance. 
   
• The pair was rejected at highs by  1.0468, slips to hover around 1.0456.
   
• 5-DMA offers strong support at 1.0429, break below will accentuate weakness, drag till 1.0350 likely.
   
• RSI is above 50 levels and Stochs are biased higher. We see scope for upside.
   
• Some consolidation likely at current levels.
   
• Major trendline support at 1.0345, bearish reversal only on break below.
   

Support levels:

S1 - 1.0429 (5-DMA)
S2 - 1.04 
S3 - 1.0350 (78.6% Fib)

Resistance levels:

R1 - 1.0478 (50 DMAs)
R2 - 1.05 (50% Fib of 1.02371 to 1.07647 rally)
R3 - 1.0547 (50% Fib of 1.0765 to 1.0330 fall)

Recommendation: Good to go long on break above 1.0485, SL: 1.0430, TP: 1.0550/ 1.06