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  |   Technicals


FxWirePro: AUD/NZD Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- AUD/NZD was trading 0.47% higher on the day at 1.1075 at around 12:00 GMT

- The pair has snapped a 5-day downside and spiked higher to retrace above cloud and 21-EMA

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

- Momentum is turning bullish. RSI has edged above the 50 mark and is biased higher

- The pair is testing 20-DMA resistance at 1.1075, decisive break above will fuel further gains

Support levels:

 S1: 1.1039 (55-EMA) 

S2: 1.1011 (Lower BB)

Resistance levels:

R1: 1.1075 (20-DMA)

R2: 1.11

Summary: AUD/NZD snaps 5-day downside, retrace above cloud has raised scope for upside. 

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