AUDNZD Wave Analysis – 2 September, 2020

• AUDNZD falling inside impulse wave 3

• Likely to reach to 1,0800

AUDNZD continues to fall inside the sharp impulse wave 3 – which previously broke the daily up channel from July (which enclosed the previous minor impulse sequence (v)).

The breakout of this up channel led to the breakout of the support level 1,0865 and the 38,2% Fibonacci retracement of the previous upward impulse from July,

AUDNZD is likely to fall further toward the next support level 1,0800 (likely price for the completion of the active impulse wave 3).