From the technical point of view the pair AUD/NZD is at the strong resistance level of 1.1260, which the price tried to reach in the summer of 2014 and 2015 and after which the price sharply went down in the downward wave since 2011.

The same situation may repeat again. It may happen on 5 April when RBAS will adopt interest rate decision. If the rate is lowered the price of the AUD will go down, and the pair AUD/NZD will decline.

The level of 1.1260 is the resistance level (ЕМА200 and Fibonacci 38.2% to the last wave of decline since November 2011).

Starting from 10 March the price is in the channel between the levels of 1.1140 and 1.1300. On the daily chart the indicators OsMA and Stochastic give signals to sell. On the weekly chart Stochastic is reversing towards the short positions.

If the price bounces from the level of 1.1260 and breaks down the limits of the range the price may decline to support level of 1.1040 (ЕМА200 on 4-hour chart), 1.0900 (ЕМА200, ЕМА144 and bottom limit of the ascending channel on the daily chart), 1.0800 (Fibonacci 23.6%). Breakout of the level of 1.0530 (lows of 2013, 2014 and 2016) will bring the pair back to the downtrend to the level of 1.0000.

Support levels: 1.1140, 1.1040, 1.0900, 1.0800 and 1.0530.
Resistance levels: 1.1260, 1.1300 and 1.1635.

Trading tips

Sell Stop: 1.1185. Stop-Loss: 1.1225. Take-Profit: 1.1140, 1.1100, 1.1085, 1.1000, 1.0900 and 1.0800.
Buy Stop: 1.1320. Stop-Loss: 1.1250. Take-Profit: 1.1400, 1.1500, 1.1600 and 1.1650.

AUD/NZD: will the price breaks out resistance level of 1.1260

AUD/NZD: will the price breaks out resistance level of 1.1260

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