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AUD/NZD: A favourite recommendation long term

FXStreet (Guatemala) - AUD/NZD is trading at 1.1059, up 0.10% on the day, having posted a daily high at 1.1082 and low at 1.1048.

On the short term, the pair is moving sideways after losing a cent to the downside. However, the broader picture, the AUD/NZD continues to grind higher from the trough of 1.05 earlier this year on the long term charts as noted by analysts at TD Securities. “Our AUD/NZD target of 1.17 by end-2015 and 1.23 by end-2016 makes this pair one of our favourite recommendations for 2015”.

AUD/NZD note worth levels

Current price is 1.1060, with resistance ahead at 1.1082, 1.1093 (Daily Classic PP), 1.1101 (Hourly 100 SMA) and 1.1131 (Daily Classic R1). Next support to the downside can be found at 1.1060 (Weekly Classic S1/ Hourly 20 EMA) and 1.1050.

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