FX.co ★ Technical analysis of AUD/NZD for December 23, 2016

The price has finally dropped strongly and reached our profit target yesterday. We now turn bullish above 1.0436 support (Fibonacci retracement, horizontal swing low support, Fibonacci projection) for a bounce to at least 1.0500 resistance (swing high resistance, Fibonacci projection, Fibonacci retracement).

The RSI (34) is supported by our ascending support line.

Buy above 1.0436. Stop loss at 1.0406. Take profit at 1.0500.