Technically, the quote stretched its U-turn from 200-HMA and breaks 50% Fibonacci retracement of January 07-19 upside, which in turn directs the sellers to a 61.8% Fibonacci retracement level of 1.0737.
Should bears refrain from bouncing off the key Fibonacci retracement support, the 1.07000 threshold will flash on their radars.
Meanwhile, an upside clearance of 200-HMA, at 1.0785 now, will recall the 1.0800 round-figure on the chart. However, multiple upside barriers around 1.0835/40 will challenge AUD/NZD bulls afterward.
AUD/NZD hourly chart
Should bears refrain from bouncing off the key Fibonacci retracement support, the 1.07000 threshold will flash on their radars.
Meanwhile, an upside clearance of 200-HMA, at 1.0785 now, will recall the 1.0800 round-figure on the chart. However, multiple upside barriers around 1.0835/40 will challenge AUD/NZD bulls afterward.
AUD/NZD hourly chart
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tp hit for any who take this pair
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