Ransquawk

Quotations of the AUDNZD currency pair for the fifth consecutive day set minimums at lower and lower levels, thus approaching the key support zone between 1.0822 / 60.As can be seen on the daily chart below, this area effectively stopped sellers in September and December last year, but it also worked as a resistance in May and July 2017. If once again there is a rebound, the bulls will have to break resistance in the area around 1.1050, where are this year’s maximum will be for the growth to be continued. A variant favoured by bears seems much more interesting.After breaking the key support zone on 1.0822 / 60, the way to almost a 220-pound drop towards 1,0600 will be opened. Another support may be the trend line running from the 2015 minima.

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Ransquawk