AUDNZD is feeling the bearish pressure for some time but RSI entered the “oversold” zone and at the same time signaling bullish divergence. The price may reverse from the 1.04-1.0430 area to the upside and test back the 1.0572 resistance level. 1.0572 level supported the AUDNZD for almost six months but now become a powerful resistance. As long as the price stays below this level any upside moves may become a selling opportunity.
For downside moves, below 1.0430-1.04 zone, 1.03 may become a likely target.
