AUDNZD Wave Analysis 25 September, 2020

• AUDNZD broke support zone

• Likely to fall to 1.0670

AUDNZD under bearish pressure after the earlier breakout of the support zone located between the support level 1.0800 and the 50% Fibonacci correction of the upward impulse from July.

The breakout of this support zone strengthened the bearish pressure on this currency pair.

AUDNZD is expected to fall further toward the next support level 1.0670 (target price for the completion of the active impulse wave (iii), former minor support from July).