AUDNZD offers limited downside risk
Ahead of the RBNZ OCR review, supports for the AUDNZD located at 1.0310/1.0300 and 1.0275 below here focus shist to 1.0230/1.0200 levels. If the cross is moving higher resistance seems to be at 1.0375 and 1.0400 above here 1.0435 exists its 50MA.
The daily indicators RSI and the oscillator are remaining bullish. Based on the recent price pattern and the indicators footprint, we believe the cross offers limited downside risk in the medium term (maximum 1.0230-1.00). If started moving higher, we could expect targets at 1.0500 and 1.0800 in the coming months.
The daily indicators RSI and the oscillator are remaining bullish. Based on the recent price pattern and the indicators footprint, we believe the cross offers limited downside risk in the medium term (maximum 1.0230-1.00). If started moving higher, we could expect targets at 1.0500 and 1.0800 in the coming months.