FX:AUDNZD   Australian Dollar / New Zealand Dollar
AUD/NZD opened the week's trade with a bullish gap and is extending gains, trading 0.41% higher on the day.
Aussie gets a boost in early Monday's trade, remains bolstered by rising copper prices.
Technical indicators for the pair support upside for now. Momentum bullish , RSI and Stochs biased higher.
Price has broken above 5-DMA and we see scope for test of 1.0985 ( trendline resistance).
Decisive break below 200-DMA could see weakness in the pair. Dip till 38.2% Fib at 1.0794 likely.

Support levels - 1.09 (5-DMA), 1.0862 (200-DMA), 1.0794 (38.2% Fib)
Resistance levels - 1.0985 (converged trendline and 61.8% Fib), 1.10, 1.1050 (Jan 4 high)

Good to go long around 1.09, SL: 1.0860, TP: 1.0985/ 1.10/ 1.1050


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