Technical analysis

AUDNZD Wave Analysis – 1 June, 2021

• AUDNZD reversed from key support level 1.0650

• Likely to rise to resistance level 1.0715

AUDNZD currency pair recently reversed up from the key support level 1.0650 (former low of wave 2 from February).

The support zone near the support level 1.0650 was strengthened by the lower daily Bollinger Band and by the support trendline of the daily down channel from March.

AUDNZD can then be expected to rise further toward the next resistance level 1.0715 (former powerful support from April and May).

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