Categories: Technical analysis

AUDNZD Wave Analysis 7 October, 2020

• AUDNZD rising inside impulse wave (iii)

• Likely to reach 1.0940

AUDNZD continues to rise inside the short-term upward impulse wave (iii) – which belongs to the higher-order upward impulse waves 3 and (3).

The price earlier broke the resistance trendline of the daily down channel from August – which added to the bullish pressure on this currency pair.

AUDNZD is likely to rise further toward the next resistance level 1.0940 (top of the (b)-wave from the middle of September).

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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