Due to diverging RBNZ and RBA monetary policies, the AUD/NZD has formed a strong uptrend breakout above the order block / MH3 confluence. Technically, if the price retraces to 1.0750-75 we should see another bounce towards 1.0876. However, another close above 1.0876 should provide a continuation towards 1.0926 and 1.0944. Around 1.0950 we might see short sellers coming as the M H5 is the strongest monthly resistance. Until then, buying the dip is the option.
W L3 - Weekly Camarilla Pivot (Weekly Interim Support)
W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)
M H4 - Monthly Camarilla Pivot (Very Strong Monthly Resistance)
M L3 – Monthly Camarilla Pivot (Monthly Support)
M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)
POC - Point Of Confluence (The zone where we expect price to react aka entry zone)
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