- AUD/NZD keeps the bullish tone in place and hit monthly highs.
- Aussie is currently testing a strong resistance and trading near the 1.0650 zone.
The Aussie posted the third weekly gain in a row versus the kiwi. The upside bias is maintained but the AUD/NZD needs to break the 1.0650 area to clear the way to more gains.
The 200-week moving average stands around 1.0660, near the 1.0650, so a weekly close above 1.0660 would target 1.0750.
If AUD/NZD fails to break higher in the short-term, a bearish correction seems likely. Targets in the pair to the downside lie at 1.0540 and 1.0490. A slide below 1.0300 would signal further losses ahead.
AUD/NZD weekly chart
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