Kiwi under pressure amid new COVID-19 cases in New Zealand, ahead of RBNZ. AUD/NZD testing level above critical medium-term resistance at 1.0850. The AUD/NZD pair is trading above a long-term resistance located around the 1.0850 area. It traded above several times last year and back in June but it failed to consolidate above. It is trading back above, with technical supporting more gains. However, volatile events ahead, like the RBNZ meeting, could trigger unexpected moves. A daily close above 1.0850 would suggest more gains ahead targeting 1.0910 and above 1.0955. A weekly close cleary above 1.0850 would point to another leg higher over the medium term. If over the next sessions, AUD/NZD retreats below 1.0810 it would have failed again to break the key resistance, and should drop further to test 1.0750/60 (uptrend line and horizontal level). A break below 1.0750, should weaken the aussie further. AUD/NZD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next RBNZ Preview: Ending NZD/USD’s recovery attempt? Dovish stance on QE and coronavirus may weigh Yohay Elam 2 years Kiwi under pressure amid new COVID-19 cases in New Zealand, ahead of RBNZ. AUD/NZD testing level above critical medium-term resistance at 1.0850. The AUD/NZD pair is trading above a long-term resistance located around the 1.0850 area. It traded above several times last year and back in June but it failed to consolidate above. It is trading back above, with technical supporting more gains. However, volatile events ahead, like the RBNZ meeting, could trigger unexpected moves. A daily close above 1.0850 would suggest more gains ahead targeting 1.0910 and above 1.0955. A weekly close cleary above 1.0850 would point to another… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
