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Chart - Courtesy Trading View
Technical Analysis: Bias Bullish
- AUD/NZD spikes over 0.50%, breaks above 21-EMA
- RSI is biased higher, edges above 50 mark
- Stochs are on verge of bullish rollover from oversold levels
- Price action is above cloud and Chikou span is biased higher
- GMMA indicator shows major and minor trend are strongly bullish
Support levels - 1.1009 (20-DMA), 1.0981 (21-EMA)
Resistance levels - 1.1087 (Upper BB), 1.1110 (May high)
Summary: AUD/NZD holds above 50-DMA support, retraces above 21-EMA, poised for upside resumption. Retest of May highs at 1.1110 likely.
