Technical analysis

AUDNZD Wave Analysis 12 February, 2021

AUDNZD Wave Analysis 12 February, 2021

• AUDNZD rising inside upward correction (ii)

• Likely to reach resistance level 1.0835

AUDNZD continues to rise inside the sharp upward correction (ii) which started earlier from the key support level 1.0550, standing near the lower daily Bollinger band and the 61.8% Fibonacci correction of the upward correction 2 from November.

The active correction (ii) belongs to the minor short-term impulse wave 3 from the middle of January.

AUDNZD can be expected to rise further toward the next resistance level 1.0835 (top of wave from last month) – from where the price is likely to correct down.\

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