AUD/NZD Outlook (30 August 2022)

The AUDNZD found strong resistance at the 1.1255 resistance level, reversing strongly to trade towards the support area formed by the 23.60% fib level and 1.1178 horizontal price level.

If the AUDNZD breaks below the 1.1178 support level, the next support level is at 1.1126 which coincides with the 50% fib level.

This move lower would most likely be driven by a weaker AUDUSD.