Australia and New Zealand are countries that are very close to each other in terms of culture and location. Therefore, the Aud/Nzd parity has been horizontal for 6 years since the 2008 housing crisis. I think the breakdown will be upwards as a result of this 6-year compression.
Technical analysis
Monthly Maturity
Looking at the chart on a monthly basis, the price is very close to the upper resistance levels and the last month's candle close is the pinbar.
I think the first target of a pullback from this point is purple rising trend support. (1.0600) The price may not break the horizontal movement upwards and continue its horizontal movement for a while.
There is also a double bottom at $1.
Technical analysis
Monthly Maturity
Looking at the chart on a monthly basis, the price is very close to the upper resistance levels and the last month's candle close is the pinbar.
I think the first target of a pullback from this point is purple rising trend support. (1.0600) The price may not break the horizontal movement upwards and continue its horizontal movement for a while.
There is also a double bottom at $1.