Technical analysis

AUDNZD Wave Analysis 9 November 2023

– AUDNZD reversed from powerful resistance level 1.0915

– Likely to fall to support level 1.0750

AUDNZD continues to fall after the earlier downward reversal from the powerful resistance level 1.0915 (which has been reversing the pair from the end of June).

The downward reversal from the resistance level 1.0915 stopped the earlier short-term impulse wave (3).

Given the clear bearish AUD sentiment seen today, AUDNZD can be expected to fall further toward the next support level 1.0750.

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