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FxWirePro: AUD/NZD tests 21-EMA resistance, break above to fuel further gains

Chart - Courtesy Trading View 

Technical Analysis:

- AUD/NZD was trading 0.21% higher on the day at 1.0761 at around 06:10 GMT

- After extending sideways grind below daily cloud, the pair is poised for upside resumption

- Price action has edged above 200H MA, GMMA indicator has turned bullish on the intraday charts

- MACD confirms bullish crossover on signal line, Chikou span is biased higher

- Momentum is bullish, Stochs and RSI are biased higher, volatility is high

Support levels:

S1: 1.0732 (5-DMA)

S2: 1.0701 (200-week MA)

Resistance levels:

R1: 1.0762 (21-EMA)

R2: 1.0813 (55-EMA)

Summary: AUD/NZD pauses at 21-EMA resistance, decisive break above to fuel further gains. Next major resistance lies at daily cloud, break above required for further gains. 
 

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