AUD/NZD has broken major resistance 1.0696 indicate bullish signals for the pair which has potential to extend the ongoing rally in the coming days.
On the upside break of 1.0696 would extend gain to 1.088/1.09281 (61.8% retracement of 1.13024 and 1.03525).
The pair’s minor support is around 1.06375 (resistance turned into support) and any break below will target 1.0600/1.0540.
Short term trend reversal only below 1.04500.
Indicators (Daily chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy
Recommendation: Buy AUD/NZD around 1.0710, SL 1.06375, Target 1.088.
On the upside break of 1.0696 would extend gain to 1.088/1.09281 (61.8% retracement of 1.13024 and 1.03525).
The pair’s minor support is around 1.06375 (resistance turned into support) and any break below will target 1.0600/1.0540.
Short term trend reversal only below 1.04500.
Indicators (Daily chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy
Recommendation: Buy AUD/NZD around 1.0710, SL 1.06375, Target 1.088.