Technical analysis

AUDNZD Wave Analysis – 11 April 2023

• AUDNZD reversed from support level 1.0625

• Likely to rise to resistance level 1.0780

AUDNZD currency pair recently reversed up from the key support level 1.0625 (which has been reversing the price from last December).

The upward reversal from the support level 1.0625 created the two consecutive upward reversal candlesticks patterns Bullish Engulfing – signalling the strength of this support level.

AUDNZD can then be expected to rise further toward the next resistance level 1.0780 (which stopped the previous waves 4 and (B)).

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