- AUD/NZD little changed after New Zealand jobs report and Australian retail sales.
- Bullish trend intact but correction likely ahead of the Asian session.
The AUD/NZD pair is about to post the third daily gains in a row. The dominant bullish trend remains in place, but ahead of the Asian session, technical indicators point to a retracement.
The rally found resistance around the 1.0665 area; if it breaks above the next target stands at 1.0695. A daily close above 1.0715 would sign more gains ahead.
The immediate support at 1.0600 (uptrend line) should limit losses; below comes the 21-day moving average around 1.0570. A daily close under 1.0570 would deteriorate the outlook for the Aussie, targeting 1.0540.
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