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AUD/NZD Technical Analysis: Plotting the upside Fibo targets

  • AUD/NZD longs are pulling the plug and have been doing so since breaking the first key support line mid-Feb at 1.0434.
  • AUD/NZD has taken a bearish turn and the trend lines have tracked the lower highs, putting the 1.03 handle under pressure. 
  • Bulls need to get back above the 23.6% Fibo at 1.0454 to alleviate immediate pressure and above the 38.2% at 1.0450. 
  • The key upside target is the 50% Fibo in the 1.0740s.

AUD/NZD daily chart Fibos

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