AUDNZD Wave Analysis 10 October 2023

– AUDNZD reversed from resistance level 1.0665

– Likely to fall to support level 1.0600

AUDNZD currency pair recently reversed down from the resistance level 1.0665 (former support from the start of October).

The downward reversal from the resistance level 1.0665 continues the C-wave of the active intermediate ABC correction (2) from the middle of June.

Given the strength of the active impulse wave C, AUDNZD can be expected to fall further toward the next support level 1.0600 (target for the completion of the active C-wave).