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AUD/NZD carrying 1.11 handle with pride

FXStreet (Guatemala) - AUD/NZD is trading at 1.1142, up 0.52% on the day, having posted a daily high at 1.1172 and low at 1.1079.

AUD/NZD spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish. The move in the pair has come about with a stronger US dollar and the kiwi making losses for a new sub handle. The pair gained over 80 pips at the start of this week but failed just shy of the 61.8 fibo and lost grip back down to recent lower territory, albeit still carrying the 1.11 handle with pride. Looking to a daily chart, we see that RSI is neutral at 65.54. The 200 SMA is currently at 1.1080, up from 1.1027 at the last period close, and climbing on the hourly AUD/NZD chart.

AUD/NZD levels

With spot trading at 1.1143, we can see next resistance ahead at 1.1172, 1.1190 (Weekly Classic R2), 1.1278 (Weekly Classic R3), 1.1614 (Annual High) and 1.3241 (3 Year High). Support below can be found at 1.1139 (Daily Classic R3), 1.1138 (Weekly Classic R1), 1.1117 (Daily Classic R2), 1.1101 (Daily Classic R1) and 1.1097 (Hourly 20 EMA).

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The AUD/NZD is liable to continue move up towards the 1.12/1.16 congestion area, notes the FX Strategy Team at TD Securities.
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