AUD/NZD Price Analysis: Holding near the top, looking at 1.0800
|- The decision from the Reserve Bank of New Zealand triggers slide of the kiwi.
- AUD/NZD jumps to highest since November and consolidates gains.
The AUD/NZD pair jumped following the RBNZ meeting breaking the 1.0690/1.0700 resistance and peaked at 1.0760 on European hours. Then it made a small correction, holding onto most of its gains, suggesting the bullish impulse remains strong.
The aussie is about to post the highest daily close since November, above April’s intraday top, leaving the door open to more gains. The next target stands at 1.0800 and above emerges the 1.0840 zone a significant resistance.
The immediate support stands at 1.0720 followed by 1.0690. The upside bias will hold while above 1.0610/20, a horizontal support band and also where the 20-day moving average stands.
AUD/NZD daily chart
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