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  • AUD/NZD confirms break of 1.0500, heads for the highest close since mid-November. 
  • Chinese data ahead: Retail Sales, Industrial Production and first-quarter GDP.

AUD/NZD resumed the upside on Thursday during the American session, after completing pullback to the 1.0500/10 area. It broke above 1.0570 and climbed to test the 1.0600 mark. 

In the daily chart, the cross is back above it key simple moving averages that are turning north offering more arguments to the bullish case. Above the 1.0600 zone, the next target is seen at 1.0660. 

On the flip side, a slide below 1.0500 would alliviate the bullish pressure, while the critical support might be seen at 1.0400. While AUD/NZD remains above 1.0400 to bias should favor the upside. 

AUD/NZD daily chart