AUD/NZD Technical Analysis: Next target at 1.0680, if RBNZ allows it
|- The kiwi rose sharply across the board during the Asian session. Later a stronger AUD limited the slide of the pair. RBNZ decision in a few minutes likely to move NZD.
- The AUD/NZD pair consolidated losses and posted the lowest daily close since June, singling that more losses could be seen, if RBNZ does not surprise on the dovish side. Potential targets are seen at 1.0690 and 1.0655.
- The current trend is bearish and a rally to 1.0800 would be seen as corrective. A break above 1.0850 (20-day moving average) and 1.0880 would invalidate the perspective and favor a consolidation and a potential recovery to 1.1000.
Spot rate: 1.0721
High: 1.0765
Low: 1.0715
Resistance 1: 1.0750
Resistance 2: 1.0795
Resistance 3: 1.0845
Support 1: 1.0680
Support 2: 1.0655
Support 3: 1.0610
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