Following the pullback from lows of N$1.0903 on 20 March in the AUD/NZD cross (Australian dollar versus the New Zealand dollar) – a move that also completed a longer-term double-top pattern at N$1.1180 – buyers and sellers on the daily chart are squaring off at resistance from N$1.1002. Complementing this area is a trendline that has turned from support to resistance (from the low of N$1.0564), and a 38.2% Fibonacci retracement level at N$1.1008.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.