Technical analysis

AUDNZD Wave Analysis – 30 July, 2021

• AUDNZD broke pivotal support level 1.0535

• Likely to fall to support level 1.0500

AUDNZD today broke pivotal support level 1.0535 (previous multi-month low from the start of February, which also stopped the previous impulse wave (i) earlier this month).

The breakout of the support level 1.0535 is aligned with the intermediate downward impulse sequence (3) from June.

AUDNZD can be expected to fall further toward the next round support level 1.0500 (forecast price for the completion of the active impulse wave 3).

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