AUDNZD Wave Analysis – 07 August, 2019

• AUDNZD reversed from support zone
• Further gains are likely

AUDNZD recently reversed up sharply from the support zone lying between the round support level 1.0300 and the lower daily Bollinger Band.

The price today broke the resistance trendline of the daily down channel from April – intersecting with the resistance level 1.0450.

AUDNZD is expected to rise further and retest the next resistance level 1.0545 (monthly high from July).