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.