AUDNZD is setting up a bearish wedge ahead of the RBA decision.

The AUDNZD has been in a downtrend, despite the bounce from the beginning of the year. The pair is finding support at the key Fibonacci level at the 1.0375 level, but a break below this level could revisit the spike lows from the beginning of the year towards the 1.0200 level. With the RBA decision tonight, the risk could be for a break lower then!

AUDNZD Bearish Wedge

Blake Morrow