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AUDNZD Weekly Analysis – 11th Nov

AUDNZD Weekly Analysis – 11th Nov

The AUD/NZD pair hits previous daily highs and shows strong signs of rejection. This comes at the same time as price hitting the ascending channel limit. From this stage on, our bias is that price could very well continue bearish throughout the week ahead. We will be targeting the 1.07000 level as our level of interest. Risks here are the RBNZ interest rate decision. Should the RBNZ cut rates, the NZD could collapse sending the pair upwards of 1.09000 but its not locked in stone given the rate cut leads to easing.

 

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