FxWirePro: Aussie spikes on mammoth Dec trade surplus data, good to buy AUD/NZD dips

• Australia trade balance posted a mammoth gain in December boosting Aussie across the board.
   
• Trade surplus rose to AUD3.5bn from an upwardly revised AUD2.0bn in November, the largest trade surplus recorded since the series started in 1971.
   
• AUD/NZD spikes above 20-DMA at 1.0468 to hit fresh weekly highs of 1.0478.
   
• Technicals support upside, intraday bias higher.
   
• The pair has bounced off lows with Doji formation, RSI biased higher. Stochs show a bullish rollover from oversold.
   
• Support levels - 1.0413 (session lows), 1.04 (5-DMA), 1.0345 (trendline)
   
• Resistance levels - 1.0504 (100-DMA), 1.0535 (200-DMA and trendline), 1.0571 (Jan 11 high)
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Recommendation: Good to go long on dips around 1.0435/45, SL: 1.0390, TP: 1.05/ 1.0535/ 1.0570