AUD/NZD chart - Trading View
AUD/NZD was trading 0.19% higher on the day at 1.0550 at around 11:40 GMT
The pair has resumed upside after a brief pause on Monday's trade, scope for further gains.
Technical indicators are turning bullish. 5-DMA is sharply higher and stochs and RSI are pointing North.
The pair has held support at weekly cloud and 'Hammer' formation on the previous week's candle shows buying pressure at lows.
Price action is currently capped at 21-EMA resistance at 1.0546, decisive break above will boost further gains.
Next major bull target lies at 200-DMA at 1.0652 ahead of 110-EMA at 1.0671 and then 50% Fib at 1.0730.
Failure to break above 21-EMA will negate any further upside. Resumption of downside eyes 61.8% Fib retracement at 1.0392.
