Market Snapshots

AUDNZD Wave Analysis – 02 April, 2020

AUDNZD Wave Analysis – 02 April, 2020
  • AUDNZD reversed from round resistance level 1.0300
  • Likely to fall to 1.0200

AUDNZD recently reversed down from the round resistance level 1.0300 (former strong support from 2019), intersecting with the 61,8% Fibonacci correction of the previous downward impulse from the start of March.

The downward reversal from this resistance area created the daily candlesticks reversal pattern Shooting Star.

Give the strength of the daily downtrend from last November – AUDNZD is likely to fall further toward the next support level 1.0200.

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