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Aug 23 - 05:00 PM
AUD/NZD: Bearish On A Daily Close Below 1.0578; Bullish On A Weekly Close Back Above 1.0580 - Citi, NAB
First appeared on eFXplus on Aug 23 - 12:30 PM

Citi and NAB highlights the importance of today's close level in AUD/NZD technical outlook. Citi flags a scope for bearish reversal on the daily if the cross closes today below 1.0578. NAB thinks that a weekly close back above 1.0580 would be bullish towards 1.0700/50.

"AUDNZD would post a bearish daily reversal if it closes below 1.0578 tonight," Citi notes. 

"We anticipate AUD/NZD producing a weekly close above the 50-week MA at 1.0580 in the coming one to two weeks. This will confirm a likely multiweek target / test of 1.0700/50," NAB notes. 

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