FxWirePro: EUR/JPY slips below daily cloud, better-than-expected EU Consumer Confidence indicator fails to impress
FxWirePro: AUD/NZD grinds higher, on track to test major trendline resistance at 1.0830
AUD/NZD chart - Trading View
AUD/NZD is extending grind higher, extends gains along rising 5-DMA.
The pair was trading 0.21% higher on the day at 1.0793 at around 12:30 GMT.
Price action is extending gains for the 4th straight session as the pair extends gains above 200W MA.
Technical bias has turned bullish after price action has bounced off 21-EMA support and daily cloud.
Oscillators are biased sharply higher. RSI is above 60, shows strength in the current uptrend.
MACD and ADX supports gains. Price action has retraced dip below 200W SMA. Bollinger bands are widening suggesting rising volatility.
Bullish momentum and rising volatility to carry prices higher. Scope for test of major trendline resistance at 1.0830.
21-EMA is strong support at 1.0714. Break below will see minor weakness. Bullish invalidation only below 200-DMA
Major Support - 1.0770 (5-DMA), 1.0714 (21-EMA)
Major Resistance - 1.0830 (Trendline), 1.0880 (June 2nd high)