AUD/NZD rises sharply after the larger than expected rate hike by RBA, and breach a key resistance level at 1.1042 (2020 high). Decisive break of this level would be a significant medium term development and should confirm resumption of whole up trend from 0.9992 (2020 low). That should set the stage for further rise to 100% projection of 0.9992 to 1.1042 from 1.0278 at 1.1328, which is slightly above 1.1289 (2017 high). In any case, outlook will stay bullish as long as 1.0822 support holds.
