AUD/NZD is clearly trending upwards and trading within the ascending channel. Today the pair rejected the lower trend line on the channel while prior to the break of the 200 Moving Average and after rejected it as well.
Consider buying AUD/NZD at the current rate 1.0560, targeting 161.8% Fibs (1.0650) applied to the current corrective wave down. The suggested stop loss is just below the 200 Moving Average 1.0530.
Support: 1.0550
Resistance: 1.0610, 1.0650
