AUD/NZD Short Term Outlook

AUD/NZD has broken major resistance 1.0696 indicate bullish signals for the pair which has potential to extend the ongoing rally in the coming days.

On the upside break of 1.0696 would extend gain to 1.088/1.09281 (61.8% retracement of 1.13024 and 1.03525).

The pair’s minor support is around 1.06375 (resistance turned into support) and any break below will target 1.0600/1.0540.

Short term trend reversal only below 1.04500.

Indicators (Daily chart)
CCI (50) - Buy

CCI (14) - Buy

Ichimoku- Buy

Recommendation: Buy AUD/NZD around 1.0710, SL 1.06375, Target 1.088.