AUD/NZD chart - Trading View
- AUD/NZD extends gains above 110-EMA, intraday bias bullish.
- The pair is trading 0.30% higher on the day at 1.0522 at 1400 GMT.
- Price action has broken above daily cloud and holds 5-DMA support.
- Technical indicators are bullishly aligned. Momentum with the bulls.
- Next major bull target lies at 38.2% Fib at 1.0567, ahead of 200-DMA at 1.0697.
- Break below 5-DMA sill see dipe till 55-EMA at 1.0439. Bullish invalidation below 21-EMA.
Support levels - 1.0470 (5-DMA), 1.0439 (55-EMA)
Resistance levels - 1.0520 (110-EMA), 1.0567 (38.2% Fib), 1.0697 (200-DMA)
Recommendation: Good to go long on dips, SL: 1.0470, TP: 1.0565/ 1.06/ 1.0680
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
