AUDNZD Wave Analysis – 14 February, 2019

• AUDNZD broke key support level 1.0400
• Further losses are likely

AUDNZD today broke through the key support level 1.0400 (which stopped the A-wave of the active ABC correction (2) from the middle of January).

The breakout of the support level 1.0400 should accelerate wave C of the active ABC correction (2) from the middle of January.

AUDNZD is expected to fall further and re-test the next support level 1.0300 (target price for the completion of the active impulse wave C).