AUD/NZD continues to fall inside the 3rd primary downward impulse wave③from the start of June. This downward impulse started when the pair reversed down from the combined resistance zone (encircled on the daily AUD/NZD chart below) lying at the intersection of the resistance level 1.1000, 50% Fibonacci Correction of the previous downward impulse from last October, upper daily Bollinger Band and the upper resistance trendline of the latest daily up channel from March.
AUD/NZD is trading close to the support level 1.0650. If it breaks below this support level, AUD/NZD can fall to the next sell target at 1.0540.
AUD/NZD continues to fall inside the 3rd primary downward impulse wave③from the start of June. This downward impulse started when the pair reversed down from the combined resistance zone (encircled on the daily AUD/NZD chart below) lying at the intersection of the resistance level 1.1000, 50% Fibonacci Correction of the previous downward impulse from last October, upper daily Bollinger Band and the upper resistance trendline of the latest daily up channel from March.
AUD/NZD is trading close to the support level 1.0650. If it breaks below this support level, AUD/NZD can fall to the next sell target at 1.0540.
The post HY MARKETS News: Forex Report: AUD/NZD appeared first on | HY Markets Official blog.
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