Technical analysis

AUDNZD Wave Analysis – 11 June, 2021

• AUDNZD broke resistance area

• Likely to rise to resistance level 1.0820

AUDNZD currency pair recently broke the resistance area lying between the resistance level 1.0755 (top of the previous wave A) and the resistance trendline of the daily down channel from March.

The breakout of this resistance area accelerated the C-wave of the active ABC correction (2).

AUDNZD currency pair can then be expected to rise further toward the next resistance level 1.0820 (monthly high from May and the target for the completion of the active ABC correction (2).

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