AUD/NZD Price Analysis: Resumes the upside, target at 1.1080
|- After two days of correction lower, AUD/NZD resumes the upside.
- The first target is seen at 1.1050 (near the recent top) and then 1.1080.
The AUD/NZD pair found support at 1.0930 and resumed the upside. The bullish momentum intensified with the cross gaining on Thursday over 60 pips. It is testing the daily high near 1.1020.
Above 1.1020, the aussie will likely challenge the recent top around 1.1050. it could face some resistance at 1.1035.
On a wider perspective, the bullish trend remains in place and the target is seen at the medium-term resistance area around 1.1080. If it breaks higher, a leg higher above 1.1100 should not be ruled out. The key support stands at 1.0850 (horizontal level and 20-day moving average).
AUD/NZD daily chart
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