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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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