AUDNZD Wave Analysis 18 September, 2020

• AUDNZD under bearish pressure

• Likely to fall to 1.0720

AUDNZD under bearish pressure after the earlier breakout of the support zone set between the support level 1.0810 (low of the previous impose wave 1) and the 50% Fibonacci correction of the previous upward price move from July.

The breakout of the support zone follows the earlier breakout of the daily up channel from July.

AUDNZD is likely to fall further toward the next support level 1.0720 (low of the previous correction (iv) from the start of August).