According to IFR Markets, as being reported in previous days, the cross has been developing a bottom, with now a “major low confirmed after price action supported bullish view on Friday,” they said. The analysts spot next resistance at the 50 day DMA and Feb low 1.2150, while holding their bullish view in the AUD/NZD while above the 1.1980/1.20 level.
Immediate resistance to the upside for AUD/NZD shows at recent session/May 14 highs 1.2100, followed by May 06 highs at 1.2110, and Feb 15 lows/May 08 highs at 1.2141/67.To the downside, closest support lies at current session/May 03 lows 1.2025, followed by May 10 lows at 1.1985, and May 16 lows at 1.1956.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.