Long AUD/NZD breaks above 200-DMA, target 1.0970/1.10
AUD/NZD struggling to extend gains after breaking on Wednesday's trade last week.
Price action was rejected at day's high by 1.0925, 200-DMA currently at 1.0922 is capping upside.
We can see stiff resistance near 1.0925 region, any further bullishness only on breaks above 1.0925.
Weakness back in Asian indices, while the copper prices are also seen in the red, down -0.53%, adding pressure on the Aussie.
The pair is poised for gains on the weekly charts, we see the cloud offering strong support on the downside.
Immediate support and resistance are located at 1.0842 (10-DMA) and 1.0922 (200-DMA) respectively.
Good to long AUD/NZD on breaks above 1.0925, SL: 1.0840, TP: 1.0970/1.10/1.1085
Price action was rejected at day's high by 1.0925, 200-DMA currently at 1.0922 is capping upside.
We can see stiff resistance near 1.0925 region, any further bullishness only on breaks above 1.0925.
Weakness back in Asian indices, while the copper prices are also seen in the red, down -0.53%, adding pressure on the Aussie.
The pair is poised for gains on the weekly charts, we see the cloud offering strong support on the downside.
Immediate support and resistance are located at 1.0842 (10-DMA) and 1.0922 (200-DMA) respectively.
Good to long AUD/NZD on breaks above 1.0925, SL: 1.0840, TP: 1.0970/1.10/1.1085