NAB FX Technical Strategy Research notes that AUDNZD achieved 1.08+ interim target in July before losing some ground.
"We now need to see further bullish triggers achieved before confirming that a sustainable MT uptrend is in play.
A month end close above 1.0826 is the first of these triggers and will confirm that the previous high at 1.1020 should come under pressure.
A weekly close above 1.1020 will confirm a sustainable MT (potentially LT) uptrend bias and initially target a retest of 2015 highs.
ST support now at 1.0580/1.0610," NAB argues.
Source: NAB ResearchOriginal Article
