AUDNZD Wave Analysis – 1 December, 2022

• AUDNZD broke support level 1.0755

• Likely to fall to support level 1.0700

AUDNZD under the bearish pressure after the earlier breakout of the key support level 1.0755 (which has been reversing the price from May).

The breakout of the support level 1.0755 accelerated the impulse wave (iii) of the medium-term downward impulse wave C from the middle of November.

AUDNZD can be expected to fall further toward the next support level 1.0700 (target for the completion of the active impulse wave (iii)).