- A decline of the Kiwi boosted the AUD/NZD that broke a 7-day consolidation range to the upside, rising on top of the critical resistance (now support) at 1.0600.
- If the Aussie remains on top, the bias would favor more gains ahead. The next target to the upside is seen at 1.0645/50. Above the next resistance might be seen at 1.0675.
- The bullish tone is likely to remain in place as long as it holds above 1.0550/60, a confluence of an uptrend line and the 55-day EMA. Key moving averages are turning north again, offering support to the constructive bias for the Aussie.
AUD/NZD Daily chart
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AUD/NZD 4-hour chart
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