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Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- AUD/NZD was trading largely muted on the day at 1.0788 at around 11:30 GMT
- The pair made a session high at 1.0796 and low at 1.0774
- Upside price action has paused at channel top resistance
- MACD and ADX support further upside in the pair
- GMMA indicator shows major and minor trend are strongly bullish
Support levels - 1.0756 (5-DMA), 1.0720 (Cloud top), 1.0687 (55-EMA)
Resistance levels - 1.0803 (Upper BB), 1.0810 (Channel top), 1.0873 (Upper W BB)
Summary: AUD/NZD trades with a bullish bias. Price action has paused at channel top resistance, break above will propel the pair higher. Bullish invalidation only below daily cloud.
