Chart - Courtesy Trading View
Technical Analysis: Bias Neutral
- AUD/NZD consolidates above 200-DMA, upside remains capped at 200-week MA
- GMMA indicator shows major trend is bullish, while minor trend is turning bullish
- RSI is above 50, biased higher, Stochs are biased lower
- Price action is above cloud and Chikou span is biased higher
- Bollinger bands are constricting, volatility is low
Support levels - 1.0603 (5-DMA), 1.0579 (21-EMA), 1.0566 (200-DMA)
Resistance levels - 1.0628 (200-week MA), 1.0635 (Upper BB), 1.0650 (Jan 5th high)
Summary: AUD/NZD struggles at 200-week MA, decisive break above required for upside continuation. Technical studies are inconclusive. Retrace below 200-DMA will see more downside.
