AUD/NZD broke resistance level 1.0580
- AUD/NZD broke resistance level 1.0580
- Next buy target - 1.0740
AUD/NZD has been rising steadily in the last few trading sessions inside the (c)-wave of the minor ABC correction 2 from the middle of September. The price earlier broke sharply through the resistance level 1.0580 (which stopped the (a)-wave of the active ABC correction 2) – which intensified the bullish pressure on this currency pair.
AUD/NZD is expected to rise further toward the next buy target standing at the strong resistance level 1.0740 (which reversed the previous corrective waves 2 and (ii) and which stands close to the 50% Fibonacci correction of the previous extended downward impulse from April).