FxWirePro: AUD/NZD spikes over 0.25%, close above 21-EMA is set to confirm upside resumption

AUD/NZD chart - Trading View 

Technical Analysis: Bias turning bullish

- AUD/NZD was trading 0.25% higher on the day at 1.0784 at around 09:45 GMT

- The pair is extending gains for the 2nd straight session

- A Doji formation on the previous week's candle raises scope for upside

- Price action has bounced off Wedge base and has retraced above 200-DMA

- The pair has re-entered daily cloud and is hovering around 21-EMA

- MACD is on verge of bullish crossover on signal line

- RSI is at 50 mark and is biased higher, Stochs are on verge of bullish rollover from oversold

Support levels - 1.0779 (21-EMA), 1.0745 (200-DMA), 1.0720 (Wedge base)

Resistance levels - 1.0788 (20-DMA), 1.0815 (Cloud top), 1.0888 (Upper W BB)

Summary: Technical indicators are turning bullish. Decisive close above 21-EMA will reinforce upside bias. Scope for upside resumption in rising wedge pattern.