Market Snapshots

AUDNZD Wave Analysis – 06 August, 2020

AUDNZD Wave Analysis – 06 August, 2020

• AUDNZD reversed from long-term resistance level 1.0855

• Likely to fall to 1.0750

AUDNZD recently reversed down from the powerful long-term resistance level 1.0855 (which has been reversing the price from last November) – standing close to the upper daily Bollinger Band.

The downward reversal from the resistance level 1.0855 stopped the previous short-term correction 2 from June.

AUDNZD is likely to fall further toward the next support level 1.0750 (former top of the minor wave (a) from last month).

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