Technical analysis

AUDNZD Wave Analysis 18 January 2024

– AUDNZD reversed from support level 1.0680

– Likely to rise to resistance level 1.0770

AUDNZD currency pair recently reversed up from the strong support level 1.0680, which has been reversing the price from the start of December.

The support level 1.0680 was strengthened by the lower daily Bollinger Band.

Given the bullish divergence on the daily Stochastic indicator, AUDNZD can be expected to rise further to the next resistance level 1.0770, target for the completion of the active minor wave ii.

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