AUDNZD is consolidating breakout above triangle top, bulls struggling to extend gains higher.
- The pair is holding above 200-DMA currently at 1.0902, any weakness will be seen only on breaks below.
- Rising hopes for accommodative efforts from the ECB and surprise easing by the BoJ are likely to support the high beta currencies.
- AUD has scope to rebound further from current levels, while pressure remains on the kiwi with RBNZ easing anticipated.
- The pair sees immediate resistance at 1.0968 (Jan 28 highs), while support on the downside lies at 1.0902 (200-DMA) and further below at 1.0876 (61.8% Fib of 1.1086 to 1.0539 fall).
Recommendation: Good to go long on dips around 1.0910/20, SL: 1.0875, TP: 1.0970/1.0990/1.10