Market Snapshots

AUDNZD Wave Analysis – 11 November, 2019

AUDNZD Wave Analysis – 11 November, 2019
  • AUDNZD reversed from resistance level 1.0840
  • Likely to fall to 1.0700

 

AUDNZD under bearish pressure after the earlier downward reversal form the resistance level 1.0840 (top of the impulse wave 1 from September) and the upper daily Bollinger Band.

The downward reversal from this resistance area stropped the earlier impulse wave (iii) from the end of October.

AUDNZD is expected to fall further and retest the next round support level 1.0700 – low of the previous short-term correction from the start of November.

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