AUD/NZD Price Analysis: Bears line up to target lower hourly low
|- AUD/NZD bears are in town at daily resistance.
- Prospects of a downside extension are on the cards.
AUD/NZD bears could step in at critical resistance at this juncture and the following illustrates the potential for an hourly lower low.
Daily chart
The price is meeting the daily resistance near 1.07 the figure and the strong upsurge could well be in need of a correction, at least to the 38.2% Fibonacci at 1.0680.
From an hourly perspective the prospects are as follows:
Below the 1.0680 area, bears can target the prior support zone in hr 1.0660s for a lower hourly low.
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