Market Snapshots

AUDNZD Wave Analysis – 25 October, 2019

AUDNZD Wave Analysis – 25 October, 2019
  • AUDNZD reversed from support zone
  • Likely to rise to 1.0800

AUDNZD recently reversed up from the support zone lying between the key support level 1,0670 (low of wave (a)), lower daily Bollinger Band and the 50% Fibonacci correction of the previous upward impulse from August.

The upward reversal from this support zone is expected to create the daily reversal pattern Morning Star.

AUDNZD is expected to rise further and retest the next resistance level 1.0800 (top of the previous wave (b)).

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