AUDNZD - short term bullish bias
The Australian dollar has gained the upper hand after it found support again at 1.0670. In the medium term, the price action is in a flag consolidation on the daily chart and sentiment remains upbeat. This offers intraday traders opportunities to go along with the underlying trend. The RSI divergence was followed up by a bullish MA cross, which signalled strong buying interests. Should the Aussie close above the immediate resistance of 1.0745, we can expect an extended rally towards 1.0780.
Key support: 1.0720
Key resistance: 1.0780
The Australian dollar has gained the upper hand after it found support again at 1.0670. In the medium term, the price action is in a flag consolidation on the daily chart and sentiment remains upbeat. This offers intraday traders opportunities to go along with the underlying trend. The RSI divergence was followed up by a bullish MA cross, which signalled strong buying interests. Should the Aussie close above the immediate resistance of 1.0745, we can expect an extended rally towards 1.0780.
Key support: 1.0720
Key resistance: 1.0780