AUD/NZD: sell target - 1.0900
By: Dmitriy Chernovolov
- AUD/NZD reversed from resistance level 1.1400
- Next sell target - 1.0900
AUD/NZD recently reversed down sharply from the resistance level 1.1400 - which stopped previous waves 3 and (b) and which was set as the buy target in our previous forecast for this currency pair. The resistance zone near 1.1400 was strengthened by the upper daily Bollinger Band. The sharp downward reversal from this resistance level completed the previous primary ABC correction ④.
Having recently broken the daily up channel from May - AUD/NZD can be expected to fall further toward the next sell target at the support level 1.0900 (which reversed the previous wave 4 in July, as you can see below).