AUD/NZD Technical Analysis: Awaits RBNZ at Pivot-Point 'breakout' level

AUD/NZD chart

AUD/NZD is accumulated around the daily pivot point at 1.0822 ahead of the RBNZ event and in breakout territory. 

When is the RBNZ and how might it affect NZD/USD?

• S1 is located at 1.0500.
• S2 is located at 1.0460.
• S3 is located at 1.0437. 
• A break beyond S3 targets 1.0398 swing low fractal, guarding territory towards the June 27th swing low of 1.0371 ahead of the flash crash lows down at 1.0192.
• R1 is located at 1.0562.
• R2 is located at 1.0585.
• R3 is located at 1.0624.
• Upside Fibo targets are located at 1.0692 (50%) and 1.0807 (61.8%). 1.0774 is the 200-D SMA.