FxWirePro: AUD/NZD tests major trendline resistance at 1.0895, breakout to fuel further gains
AUD/NZD chart - Trading View
AUD/NZD was trading 0.27% higher on the day at 1.0872 at around 16:35 GMT.
The pair has slipped lower from 22-month highs at 1.0896, bias is strongly bullish.
Price action is above major moving averages. Momentum strongly bullish with Stochs and RSI sharply higher.
Analysis of GMMA shows major and minor trend on the daily and weekly charts are bullish.
Price action has tested major trendline resistance at 1.0895, decisive break above will propel the pair higher.
Scope for test of 78.6% Fib at 1.1012. 5-DMA is immediate support at 1.0840. Break below will see pullback till 21-EMA.