AUDNZD Wave Analysis – 28 July, 2022

• AUDNZD reversed from resistance level 1.1165

• Likely to fall to support level 1.1100

AUDNZD currency pair recently reversed down from the pivotal resistance level 1.1165 (former strong resistance from the start of June).

The downward reversal from the resistance level 1.1165 stopped the earlier minor impulse wave 3 – which belongs to the higher order impulse sequence (5) from May.

Given the strength of the resistance level 1.1165, AUDNZD can be expected to fall further toward the next support level 1.1100.