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Technical analysis for the AUD/NZD, the pair formed a double top on the weekly and the daily charts, rejecting 0.618 FIB retracement on the monthly chart, signaling a bearish run. The first target for this bearish run is the previous low at 1.0666. The second target for the AUD/NZD is the 0.382 FIB retracement on the weekly chart at 1.0610. The third target is the 0.500 FIB retracement on the weekly chart at 1.0555.
On the other hand, if the AUD/NZD pair breakout above the double top at 1.0795, it will send the pair higher. The first target for such a bullish breakout is the resistance at 1.0850. The second target is the 0.786 FIB retracement on the weekly chart at 1.0880.
Daily chart:
Weekly chart:
Monthly chart:
