AUD/NZD – Trendline resistance towards 1.1230 eyed by Milan Cutkovic

  • AUD/NZD has posted a short-term double bottom at 1.1120
  • AUD & NZD both oversold against USD, positioning is stretched; suggests AUD/NZD may consolidate in the near-term
  • Trendline resistance eyed towards 1.1230, first bull target is 1.1277 (Monday’s high) and then 1.13
  • Failure to sustain upside momentum and break below 1.11 would confirm the double top at 1.1280/95

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