Technical analysis

AUDNZD Wave Analysis – 23 March 2023


• AUDNZD reversed from resistance level 1.078

• Likely to fall to support level 1.0670

AUDNZD currency pair recently reversed down from the key resistance level 1.078 (former support from the start of March).

The resistance level 1.078 was strengthened by the intersecting 50% Fibonacci correction of the previous upward impulse from December (acting as the resistance after it was broken in March).

AUDNZD can then be expected to fall further toward the next support level 1.0670 (which stopped the previous correction (C)).

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