The meeting of the RBA ended last Tuesday. As expected, its leaders left the parameters of monetary policy unchanged, pointing to the positive dynamics of the labor market and the risks of further price increases.
The RBNZ rate decision will be released on Wednesday at 02:00 (GMT) and NZD watchers need to be prepared for a sharp increase in volatility during this period of time.
Trading in the zone above the key support levels 1.0670, 1.0640, AUD/NZD remains in the bull market zone, maintaining positive dynamics. In this situation, long positions are considered preferable, and the growth targets are the resistance levels of 1.0950 (the upper limit of the range formed between the levels of 1.0950 and 1.0320) and 1.1040.
In an alternative scenario, there will be a reversal from the current levels, and the first signal to open short positions will be a breakdown of the short-term support level of 1.0862.
Support levels: 1.0862, 1.0841, 1.0830, 1.0800, 1.0771, 1.0670, 1.0640, 1.0600
Resistance levels: 1.0885, 1.0920, 1.0950, 1.1000, 1.1040
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Source: InstaForex
