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AUD/NZD chart on Trading View used for analysis
- AUD/NZD trades shy of 21-EMA, we see scope for further upside.
- The pair opened with a bullish gap and is holding above 5-DMA support.
- Technical indicators are turning slightly bullish, 5-DMA has turned.
- Stochs and RSI are on verge of rollover from oversold levels. MACD is on verge of bullish crossover on signal line.
- Further, bullish divergence on Stochastics keeps scope for upside.
- Break above 21-EMA eyes 38.2% Fib at 1.0813. Break below 5-DMA negates bullish bias.
Support levels - 1.0645 (5-DMA), 1.0589 (Nov 20 low)
Resistance levels - 1.0709 (21-EMA), 1.0727 (23.6% Fib)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
