AUD/NZD Price Analysis: Testing key resistance and looking at the 200-WMA

• AUD/NZD keeps the bullish tone in place and hit monthly highs.
• Aussie is currently testing a strong resistance and trading near the 1.0650 zone.

The Aussie posted the third weekly gain in a row versus the kiwi. The upside bias is maintained but the AUD/NZD needs to break the 1.0650 area to clear the way to more gains.

The 200-week moving average stands around 1.0660, near the 1.0650, so a weekly close above 1.0660 would target 1.0750.

If AUD/NZD fails to break higher in the short-term, a bearish correction seems likely. Targets in the pair to the downside lie at 1.0540 and 1.0490. A slide below 1.0300 would signal further losses ahead.

AUD/NZD weekly chart