The AUDNZD is nearing resistance.

We have been bullish the AUDNZD since it broke the wedge resistance at 1.0350, and our target has been the 1.0550 level. We are almost there, and this is the 50% retracement of the June highs to the September lows. Daily RSI is reaching overbought, so we’d look for the 1.0540-1.0550 range to act as strong resistance in the coming sessions.

Steve Voulgaridis