Categories: Technical analysis

AUDNZD Wave Analysis – 11 November, 2019

  • AUDNZD reversed from resistance level 1.0840
  • Likely to fall to 1.0700

 

AUDNZD under bearish pressure after the earlier downward reversal form the resistance level 1.0840 (top of the impulse wave 1 from September) and the upper daily Bollinger Band.

The downward reversal from this resistance area stropped the earlier impulse wave (iii) from the end of October.

AUDNZD is expected to fall further and retest the next round support level 1.0700 – low of the previous short-term correction from the start of November.

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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