Bulls targeting key resistance
For third consecutive day demand does not give up despite the fact that is tested critical resistance on level1.0750. Resistance remains unbroken by bulls from May 2016 year. Earlier tests of this level ended with declines towards key support of 1.0360 – 1.0330.
Scenarios for AUDNZD
It is difficult at this point to precisely predict what will be the fate of AUDNZD. Everything now depends on the behavior of price at the indicated level 1.0750. Successful break of this level will give potential gains equal to more than 200 pips, and maybe even start a new trend.
In turn in case of capitulation of demand market will drop to a minimum of current consolidation ,the area of 1.0360 – 1.0330.
