AUDNZD have been falling for the 5 weeks in a row and now is facing the key support on the long-term trend line running from the bottom of 2015, visible on the weekly chart below.
It is important, therefore, how the price action will look like on the support provided by this trend line. In the case of another rebound, the first significant horizontal resistance can be found in the vicinity of 1.0652. On the other hand, the resistance zone within 1.0824 seems to be much more important. If, however, the supply side maintained control over the long term and successfully overcame the trend line, quotations would have an open way to declines in the direction of 1.0370, where the 2017 minimums are located.
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