AUD/NZD Bounced off from 1.0950

AUD/NZD reached a high at 1.1290 and began slowly retracing from that resistance well over a month ago, falling to 1.0950 before bouncing off from that support and forming a clear spinning top candlestick at the aforementioned level on the weekly time-frame, as well as a pair of spinning top candlesticks on the daily time-frame. What is more, that support level also coincides with the (MA)89 indicator on the daily time-frame. Considering this it is very likely that the retracement has ended at least for now and there will probably be a new move to the upside. Should that happen the closest target will likely be around 1.1150 – 1.1200.