AUD/NZD technical analysis: Bulls await the RBA minutes for a run beyond 61.8% fibo

Ross J Burland FXStreet

AUD/NZD chipping away at the upside the central bank divergence between the Reserve Bank of Australia and New Zealand. From a technical perspective, the cross can continue higher while supported by rising moving averages within a bullish flag on the daily charts. Today, the RBA minutes could be the next catalyst in its northerly trajectory - We have heard a lot from the RBA since the meeting, in speeches and the quarterly statement so there may not be too much in this. However, a break of the 1.06 handle is required to for the pair to find traction above the 61.8% Fibo retracement. To the downside, the 38.2% is located around 1.0440 as a potential landing spot.

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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