AUD/NZD Short Term Outlook

FX:AUDNZD   Australian Dollar / New Zealand Dollar

AUD/NZD has retreated after making high of 1.05710. Short term trend is bearish as long as resistance 1.058 holds.
On the upside minor resistance is around 1.0459 and any indicative break above would extend gain to 1.0510/1.0580 in short term.
Long term trend reversal only above 1.0650 (Dec 15th high)).
The pair’s minor support is around 1.0420 and any indicative break below will take the pair to 1.0295 (61.8% projection of 1.08669 and 1.04205 from 1.05710)/1.0125.

Indicators (4 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell AUD/USD around 1.04510, SL 1.0481, Target 1.0295/1.0125.

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