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What is the technical outlook for AUD/NZD?

Here is their view, courtesy of eFXdata:

NAB discusses AUD/NZD technical outlook and highlights the importance of the 1.1044 level for directional bias.

A break above our MT target at 1.1044 will be of huge significance. It will complete the first higher low/ higher high sequence in a decade and confirm that a LT uptrend structure is in play. LT momentum bias is again positive,” NAB notes.

We await the response to our long-held MT target at 1.1044.  Bullish MT/LT triggers imply that a break of 1.1044 is most likely in the coming months. This will set our sights on aggressive MT upside targets,” NAB adds.

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