Technical analysis

AUDNZD Wave Analysis 21 April, 2021

• AUDNZD broke support area

• Likely to fall to support level 1.0700

AUDNZD recently broke the support area lying between the support level 1.0755 and the 50% Fibonacci correction of the C-wave from February.

The breakout of this support area accelerated the active short-term impulse waves (iii) and 3.

AUDNZD is likely to fall further toward the next support level 1.0700 (target price for the completion of the active impulse wave 3).

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