AUDNZD Wave Analysis – 28 June, 2022

• AUDNZD reversed from support area
• Likely to rise to resistance level 1.116

AUDNZD currency pair recently reversed up from the support area located between the key support level 1.0940 (which has been reversing the pair from May), the lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from March.

The upward reversal from this support area continues the active multi-month uptrend from last September.

Given the strongly bearish NZD sentiment, AUDNZD can be expected to rise further toward the next resistance level 1.116 (which stopped the earlier upward waves (a) and (c)).