Technical Tools
Resistance and support lines, Trend lines, Price action, Candlestick Pattern, MACD, RSI, Simple Moving Average and Stochastic Fast Indicator, Ellipse.

AUDNZD Weekly Chart

  • The MACD on the weekly chart is in the negative zone.
  • The RSI is rising.
  • The Stochastics is headed North.
  • The pair has closed the week below 50 periods SMA.
Keeping these facts in mind the pair may see an up move in coming weeks but it will be restricted by falling trendline and 50 periods SMA.

AUDNZD Daily Chart

  • The MACD on the Daily chart is positive.
  • The RSI is headed North.
  • The Stochastics is turning up.
  • The pair has closed the day above 50 periods SMA.
From the facts above we can deduce that the pair will go higher as it has taken support on the 50 periods SMA and the rising trendline. The 50 periods SMA will be supporting the pair in coming days.

If the 50 periods SMA and the rising trendline holds as a support then the price may test the recent highs at 1.0780 levels. But that will be the extreme case. So I shall keep the target of 1.0750 levels until the start of march 2017.
Happy trading to all.
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