AUD/NZD Outlook:Cross Maintains Positive Tone
FinFX | Oct 22, 2013 04:25AM ET
AUD/NZD
The cross maintains positive tone, as yesterday’s fresh strength through psychological 1.1400 barrier, tested near-term target and pivotal point at 1.1436, 10/10 peak. Break here is required to daily cup and holder pattern and resume recovery rally from 1.1200 base, for test of next targets at 1.1482, Fibonacci 61.8% of 1.1655/1.1203 and psychological 1.1500 barrier. Near-term studies hold positive tone and are supportive for the upside scenario, with 1.1400/1.1385 support zone expected to contain dips.
Resistance: 1.1439; 1.1482; 1.1500; 1.1534
Support: 1.1400; 1.1385; 1.1358; 1.1300
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