AUDNZD Wave Analysis 7 October, 2020

• AUDNZD rising inside impulse wave (iii)

• Likely to reach 1.0940

AUDNZD continues to rise inside the short-term upward impulse wave (iii) – which belongs to the higher-order upward impulse waves 3 and (3).

The price earlier broke the resistance trendline of the daily down channel from August – which added to the bullish pressure on this currency pair.

AUDNZD is likely to rise further toward the next resistance level 1.0940 (top of the (b)-wave from the middle of September).