AUD/NZD: Breakout above 1.0772-1.0783 would signal an acceleration of the pair’s ascent - Natixis
|Research Team at Natixis, suggests that an ascending channel has developed in the daily chart and weekly indicators are very upbeat as far as the AUD/NZD is concerned.
Key Quotes
“In addition, the monthly stochastic has turned around and the pair has broken above the overhead resistance at 1.0660 (upper bound of descending channel within which the pair had been trading).
Prospects therefore remain very favourable for the pair, which should go on to test the resistance around 1.0772-1.0783 (monthly Bollinger moving average). A breakout above these levels would open the way for a lasting rise towards 1.0920 (Fibonacci retracement) before 1.1055 (descending resistance trendline) and 1.1170 (50-month moving average.”
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