AUDNZD Wave Analysis – 2 December, 2021

• AUDNZD reversed from resistance level 15.00

• Likely to fall to support level 1.040

AUDNZD currency pair recently reversed down from the resistance level 15.00 intersecting with the upper daily Bollinger Band.

The resistance zone near the resistance level 15.00 was further strengthened by the 61.8% Fibonacci correction of the downward price impulse (1) from the start of October.

Given the strong daily downtrend, AUDNZD currency pair can be expected to fall further toward the next support level 1.040.