AUD/NZD: Potential bullish shift - JPMorgan

FXStreet (Bali) - The breakout for AUD/NZD above the medium term range highs in the 1.0915/50 zone highlights a potential shift, notes Niall O'Connor.

Key Quotes

"Given the extension, we see potential for a closer test of the 1.1155/1.1215 zone which includes the former lows from September and the breakdown area from December."

"However, a case for a deeper advance into the 1.1315/1.1385 area can be made. This zone represents the 76.4% retracement of the decline from the August peak and should be where the cross pauses."