AUD/NZD under bearish pressure
- AUD/NZD under bearish pressure
- Next sell target - 1.0310
AUD/NZD has been falling in the last few trading sessions – following the earlier breakout of the round support level 1.0500 (which reversed the previous minor impulse wave 1). The breakout of the support level 1.0500 accelerated the active minor impulse wave 3 – which belongs to the intermediate impulse wave (3) from the middle of July.
AUD/NZD is expected to fall down further toward the next sell target at the support level 1.0310 (which reversed the previous sharp intermediate impulse wave (1) in July, as can be seen from the daily AUD/NZD chart below). Strong resistance remains at 1.0500.