AUD/NZD reversed from support zone
- AUD/NZD reversed from support zone
- Next buy target - 1.0700
AUD/NZD continues to rise – following the earlier sharp upward reversal from the support zone lying between the support levels 1.0300, 1.0200 and the lower weekly Bollinger Band. The upward reversal from this support zone created the weekly Japanese candlesticks reversal pattern Morning Star – which stopped the previous minor impulse wave 3.
With the clear bullish divergence that can be seen on the weekly Stochastic indicator – AUD/NZD is expected to rise further in the direction of the next buy target 1.0700 (which reversed the previous waves (2) and 2).