Categories: Technical analysis

AUDNZD Wave Analysis – 11 June, 2019

  • AUDNZD reversed from support area
  • Further gains are likely

AUDNZD recently reversed up from the support area lying between the key support level 1.0510 (monthly low from May) and the upper daily Bollinger Band.

The upward reversal from this support area completed the previous ABC correction 2 from the middle of April.

AUDNZD is expected to rise further and retest the next key resistance level 1.0630 (top of the previous wave (b) from the end of May).

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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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