Ransquawk

The New Zealand dollar definitely strengthened during yesterday’s session, all thanks to excellent results from the labour market. On AUDNZD there was a break from support/resistance at 1.0845, where the price has been circulating for two weeks. During the night, the key support was reached 1.0690 for a moment, but now the price has returned above 1.07.

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Will there be an attack on support?

There is currently an upward rebound on AUDNZD. From its strength depends further situation on the pair. If the strength of the bulls is exhausted, an attack at 1.0690 will be unavoidable. The last failed attempt to overcome this level took place in June.

AUDNZD H4

If the supply side is successful, the next target is 1.0500. You can see it well in the daily chart. In this area, there is this year’s low on this pair. If the bulls return, we can expect to get back to 1.0845, where the price was still on Tuesday.

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