Upbeat comments from new RBA governor Lowe, in his testimony before the parliament support the Aussie.
Broad based commodities rally also buoyed the sentiment around the resource-linked currency.
On the other side, NZD subdued after RBNZ held rates earlier today but kept alive speculation about future rate cuts.
AUD/NZD has broken major resistances - 20-DMA at 1.0341 and major trendline at 1.0365 to hit 2-week highs of 1.0423.
Techs are heavily bullish, we see scope for gains upto 1.05 (major trendline). Break above could see test of 1.0550 (61.8% Fib of 1.0743 to 1.0237 fall).
Major support levels - 1.0365 (trendline), 1.0356 (23.6% Fib), 1.0341 (20-DMA)
Major resistance levels - 1.0430 (38.2% Fib), 1.0468 (Aug 24 & 26 high), 1.05, 1.0540 (Aug 2 high)
Good to long dips around 1.04, SL: 1.0340, TP: 1.0465/ 1.05/ 1.0550
Broad based commodities rally also buoyed the sentiment around the resource-linked currency.
On the other side, NZD subdued after RBNZ held rates earlier today but kept alive speculation about future rate cuts.
AUD/NZD has broken major resistances - 20-DMA at 1.0341 and major trendline at 1.0365 to hit 2-week highs of 1.0423.
Techs are heavily bullish, we see scope for gains upto 1.05 (major trendline). Break above could see test of 1.0550 (61.8% Fib of 1.0743 to 1.0237 fall).
Major support levels - 1.0365 (trendline), 1.0356 (23.6% Fib), 1.0341 (20-DMA)
Major resistance levels - 1.0430 (38.2% Fib), 1.0468 (Aug 24 & 26 high), 1.05, 1.0540 (Aug 2 high)
Good to long dips around 1.04, SL: 1.0340, TP: 1.0465/ 1.05/ 1.0550
Upside pauses at major trendline resistance.
Break above to see test of 1.0550.