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AUD/NZD: Break above 1.13 targets 1.17 - TDS

FXStreet (Bali) - According to TDS FX Strategists, a clear move above 1.13 puts AUD/NZD on course for a range extension trade with eventual target at 1.17.

Key Quotes

"AUDNZD is pressuring the topside of the August/ October consolidation range—potential bull break out—today. There may be a nice trade developing here as the move up in the cross looks well-supported by short, medium and longer term trend momentum oscillators—which is the sort of alignment we like to see for a high conviction view."

"A clear move above 1.13 puts the cross on course for a range extension trade at least (equal to the 1.09/1.13 range seen between July and early September) in theory putting the cross on track for a rise to 1.17 in the next 3-6 months."

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