AUD/NZD
The cross has sharply bounced yesterday but failed to clear the key short term resistance at 1.2660. In this context, a resumption of the downtrend is likely, which should lead to a new test of the long term support at 1.2469 (+1 bp /day) . A break would be a bearish development in the medium trend. A break above 1.2660 would invalidate this scenario and would prolong the recovery toward 1.2744 then 1.2838. Short – Stoploss @ 1.2660 – Target @ 1.2475
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Natixis