AUDNZD is in a interesting place on the chart. Third time in a row trend line drawn from last year’s lows was tested.
In turn, looking on H4 chart, we have a large bullish candle followed by upward movement and yesterday a higher high was set at 1.0515.
Currently, quotations are struggling with a dynamic support – 20-period SMA. If price manages to maintain level set by SMA, the rebound can lead to breakout yesterday’s high.
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Successful closure above yesterday’s maxima may indicate continuation of growth and then the nearest potential direction will be resistance around 1.0595.
