Technical analysis

AUDNZD Wave Analysis – 13 November , 2018

  • AUDNZD falling inside impulse wave (v)
  • Further losses are likely

AUDNZD continues to fall inside the short-term impulse wave (v) which started earlier from the key resistance level 1.0780 (former strong support from October, acting as resistance after it was broken recently).

The active impulse wave (v) belongs to the short-term impulse wave C of the medium-term ABC correction (2) from August.

AUDNZD is expected to fall further and re-test the next support level 1.0650 (target price for the completion of wave (2) and the former strong support from May and June).

Article Rating
Rate this post