AUD/NZD: Bullish Triggers Needed On Monthly & Weekly Closes: Levels & Targets – NAB

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 eFXNews

from Online Forex Trading Resource
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