Categories: Technical analysis

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).

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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The FxPro Tech Analysis Team
Tags: AUDNZD

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