AUDNZD testing resistance, potential rise on breakout!

Diupdate
AUDNZD is testing our first resistance at 1.0585 (horizontal pullback resistance) which coincides with our short term descending resistance line. If price breaks out of this level, a strong rally might occur pushing price up to our major resistance at 1.0627 (horizontal swing high resistance, 38.2%, 50% Fibonacci retracement, 61.8% 100% Fibonacci extension).

RSI (89) is testing its descending resistance line and a breakout of this level might be a good precursor of a potential rise in price.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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