AUDNZD broke the triangle formation to the downside in May and fell below the Fibonacci %38.2 line. But now the price is trying to get a correction. Reserve Bank of New Zealand’s hawkish interest rate forecast and Reserve Bank of Australia’s dovish policy are pointing towards to south for the moment but, RSI showing a possible correction is due. If AUDNZD can make daily closes over the 1.0644, a move targeting the 1.075-1.080 zone can happen. Otherwise bearish pressures may resume and a fall to at least 1.04 can be expected.
