AUD/NZD chart - Trading View
Technical Analysis: Bias Bearish
- AUD/NZD extends sideways grind at 200-DMA resistance
- Momentum studies are bullish, stochs and RSI are biased higher
- Volatility is rising as evidenced by widening Bollinger bands
- Breakout above 200-DMA and into daily cloud supports upside, 50% Fib at 1.0730 in sight
- Failure at 200-DMA will negate further upside. 21-EMA is next strong support at 1.0624
Support levels - 1.0657 (38.2% Fib), 1.0638 (55-EMA), 1.0624 (21-EMA)
Resistance levels - 1.0688 (200W MA), 1.0730 (50% Fib), 1.0759 (Nov 5th high)
Summary: AUD/NZD trades with bullish outlook. Pair is on track to test 50% Fib at 1.0730 ahead of 61.8% Fib at 1.0804. Bullish invalidation on retrace below 200-DMA.
