Quick technical update for AUDNZD: Target Approaching!
Having a look at the weekly chart of AUDNZD pair, we easily can see how the pair has stabilized above the median line of pitchfork channel as previously anticipated.
The AUDNZD pair is gradually approaching the previous detected technical objective following the breakout above the psychological level of 1.1000.
The positive catalysts remain intact on the chart and with a lack of resistances between the current trading levels and the technical target zone at 1.12, we hold onto our bullish scenario.
Of note, yesterday, we have closed 25% of the long position taken at 1.0775 and we will keep the remaining quantity as it is, but we will move the stop loss to the entry point.