The AUDNZD pair formed strong bullish rally recently, affected by the positive momentum coming by the major indicators, to notice approaching the bearish channel’s resistance at 1.0543.
The upcoming scenario depends on the strength of the mentioned resistance, as settling below it increases the chances of starting the negative attack that might target 1.0480 level initially, while succeeding to surpass the resistance and holding above it will confirm moving to the bullish track, waiting to achieve new positive targets that might extend towards 1.0560 and 1.0605 levels.
The expected trading range for today is between 1.0545 and 1.0490
The expected trend for today: Bearish