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Thomson Reuters
May 09 - 01:24 AM
AUD/NZD: No Sign Of A Complete Correction Yet; 1-Month Target At 1.0800 - NAB
First appeared on eFXplus on May 08 - 05:00 PM

NAB Research discusses AUD/NZD technical outlook and maintains its one-month target around 1.0810, which should signal a completion of the cross recent 3-weeks correction.

"1.0775/1.0825 should remain a level of resistance that is difficult to overcome in the MT.

 Upside risk towards MT resistance around 1.0810/15 (50-week MA / weekly cloud base) remains high. 

No sign of a complete correction as yet after three consecutive up weeks. On alert for a correction failure / completion above 1.0800," NAB argues. 

Source:
NAB Research/Market Commentary

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