NAB FX Technical Strategy Research notes that AUDNZD achieved 1.08+ interim target in July before losing some ground.
“We now need to see further bullish triggers achieved before confirming that a sustainable MT uptrend is in play.
A month end close above 1.0826 is the first of these triggers and will confirm that the previous high at 1.1020 should come under pressure.
A weekly close above 1.1020 will confirm a sustainable MT (potentially LT) uptrend bias and initially target a retest of 2015 highs.
ST support now at 1.0580/1.0610,” NAB argues.
Source: NAB Research
The article is published by one of the foremost sources of Forex trading information. Link to the original article above.
from Online Forex Trading Resource
View thesource article here