Technical analysis

AUDNZD Wave Analysis 30 September, 2020

AUDNZD Wave Analysis 30 September, 2020

• AUDNZD rising inside wave (ii)

• Likely to reach 1.0915

AUDNZD continues to rise inside the short-term correction (ii), which started earlier from the support area located between the key support level 1.0725 (former resistance from June and July), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from July.

The active correction (ii) belongs to the medium-term downward impulse sequence (3) from the middle of August.

AUDNZD is likely to rise further toward the next resistance level 1.0915 (top of the previous minor correction 2 from the start of September).

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