0.0565/75 is a strong support zone for AUD/NZD, the pair has tests this region multiple times and edged higher.
- We would see weakness only on a decisive break below, test of 1.0496 (Oct 30 lows) then likely.
- The pair is holding above the 10 & 21-DMAs by 1.0628/38 which are initial supports on the downside, with 1.0598 (Jan 11 lows) as next level of support.
- On the topside initial resistance is seen at 1.0670 (23.6% Fib of 1.1087 to 1.0539 fall) and then at 1.0722 (Dec 15 high) and further ahead at 1.0750 (38.2 % Fib of 1.1087 to 1.0539 fall).
Recommendation: Good to long dips around 1.0630, SL: 1.0490, TP1: 1.0750, TP2: 1.08, TP3: 1.10
