AUDNZD Wave Analysis 27 October, 2020
October 27, 2020 @ 18:22 +03:00
• AUDNZD broke support area
• Likely to fall to 1.0550
AUDNZD continues to fall after the earlier breakout of the support area lying between the key support level 1.0675, 38.2% Fibonacci correction of the upward impulse from March and the support trendline of the daily down channel from August.
The breakout of this support area accelerated the active short-term downward impulse wave C belonging to the ABC correction (B) from the middle of August.
AUDNZD is likely to fall further toward the next support level 1.0550 (former multi-month low from the start of July).