Categories: Technical analysis

AUDNZD Wave Analysis 15 March, 2021

• AUDNZD reversed from resistance level 1.0820

• Likely to test support level 1.0700

AUDNZD currency pair recently reversed down from the major resistance level 1.0820, coinciding with the upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous downward impulse (1) from August.

The downward reversal from the resistance level 1.0820 started the active minor impulse wave (iii).

AUDNZD can be expected to fall further toward the next support level 1.0700 (which stopped the previous minor correction (b) earlier this month).

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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Tags: AUDNZD

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