• The bear trend remains in place for AUD/NZD;
  • Nevertheless we are trading at historically ‘cheap’ levels;
  • Recent trend lows formed at 1.0750 and there is hourly support at 1.0790/00;
  • There is good risk-reward for the contrarian bulls in buying near 1.0800 with a stop below 1.0740, targeting 1.10+