The AUDNZD traded higher to the top of the bullish channel at the 1.0920 price level, due to the overnight strength of the AUDUSD.
As the AUDUSD retraces, this could lead to a brief reversal on the AUDNZD. Look for the AUDNZD to retest the 1.0890 price level before a continuation to the upside.
However, if the price breaks below the 1.0890 support level, the AUDNZD could continue lower to the lower bound of the channel at the 1.0860 price level.
As the AUDUSD retraces, this could lead to a brief reversal on the AUDNZD. Look for the AUDNZD to retest the 1.0890 price level before a continuation to the upside.
However, if the price breaks below the 1.0890 support level, the AUDNZD could continue lower to the lower bound of the channel at the 1.0860 price level.
