AUD/NZD: Stronger rally sounds on the cards - Natixis

According to Micaella Feldstein, Research Analyst at Natixis,  the 1.06 area for AUD/NZD held well on Feb 28 and favoured a sharp rally above major technical thresholds at 1.0695-1.0708 (monthly Bollinger moving average).

Key Quotes

“The daily indicators have also turned around and the weekly indicators remain bullish.”

“Against this backdrop, a stronger rally sounds on the cards and we’ll keep a lookout at 1.0763-1.0770 (rising trendline). A break of these barriers would indeed open the door to 1.08-1.0810 (daily Bollinger upper band), to 1.0844-1.0866 (Fibonacci extensions) and 1.0906 (rising trendline). It can even push higher to 1.0962 (50-month moving average). The supports stand at 1.0695-1.0708, at 1.0638-1.0650, at 1.0590-1.0607 and at 1.0532-1.0545.”