AUD/NZD’s bounce from the current July low at 1.0616 has taken it out of its bullish wedge formation to the current July high at 1.0840. This level still needs to be bettered for a lasting reversal higher to be confirmed.
In this case the 200 day moving average at 1.0882 and then the February and June highs at 1.0948 and at 1.1037 will be in the picture. This is our preferred scenario.
CB