AUDNZD breaks down the multi-support level

The cross currency AUDNZD breaks down the multi-support level 1.0825-1.080 and retraced nearly 60.0% of the previous rally ( 1.0370-1.1290). It’s 61.85 fib reaction and 100MA (weekly) finds at 1.0720 below this 1.0700 exits it’s 20MA (monthly). Earlier bullish break through symmetrical triangle trendline finds at 1.0650.

In case of a rebound, 1.0825 and 1.0870 will be the immediate targets.

Commento:

held the support and printed a sharp rebound. Remain a buyer in dip (1.08-1.0660) ahead of tonight's Lowe speech and tomorrow's RBA policy statement.