AUD/NZD Outlook (6 July 2022)

As previously discussed, the AUDNZD reacted with signifcant volatility on the 1.1050 resistance level.

Expected volatility in the NZDUSD and further weakness in the AUDUSD, the AUDNZD is likely to retest the 1.1050 level but still trade within a wide range of 1.0950 (support) and 1.1050 (resistance).

Look for a rejection of the resistance level for a potential trade back down.