AUD/NZD: Turnaround of the daily indicators expected to bolster the pair - Natixis

Research Team at Natixis, suggests that the stabilisation of daily volatility and the turnaround of the daily indicators can be expected to bolster the AUD/NZD pair and enable it to go on and test the major resistance at 1.0670 (daily parabolic), before an acceleration of the rebound towards 1.0782 (upper band of weekly Bollinger and monthly Bollinger moving average).

Key Quotes

“A breakout above this last resistance would release significant upside potential towards 1.0892 (Fibonacci projection) before the resistance levels around 1.0980-1.10 (Fibonacci projections) and at 1.1114 (50-month moving average).”

“Take advantage of any pullbacks towards 1.05-1.0520 to buy the AUD/NZD, with as first major target 1.0782 (setting the stoploss below 1.0440).”