Categories: Technical analysis

AUDNZD Wave Analysis – 22 November, 2019

  • AUDNZD broke support area
  • Likely to fall to 1.0530

AUDNZD recently broke though the support area lying between the support level 1.0665 (which has been reversing the price from October) and the 38,2% Fibonacci correction of the previous upward impulse 1.

The breakout of this support area accelerated the active ABC correction 2.

AUDNZD is expected to fall further toward the next support level 1.0530 (low of the short-term downward correction form the end of August).

 

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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Tags: AUDNZD

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