AUD/NZD Technical Analysis: Awaits RBNZ at Pivot-Point 'breakout' level

Ross J Burland FXStreet

AUD/NZD chart

AUD/NZD is accumulated around the daily pivot point at 1.0822 ahead of the RBNZ event and in breakout territory.

When is the RBNZ and how might it affect NZD/USD?

S1 is located at 1.0500.
S2 is located at 1.0460.
S3 is located at 1.0437.
A break beyond S3 targets 1.0398 swing low fractal, guarding territory towards the June 27th swing low of 1.0371 ahead of the flash crash lows down at 1.0192.
R1 is located at 1.0562.
R2 is located at 1.0585.
R3 is located at 1.0624.
Upside Fibo targets are located at 1.0692 (50%) and 1.0807 (61.8%). 1.0774 is the 200-D SMA.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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