AUD/NZD: buy target - 1.1200
By: Dmitriy Chernovolov
- AUD/NZD reached buy target 1.1000
- Next buy target - 1.1200
AUD/NZD has been rising sharply in the last few trading sessions – breaking through the resistance levels 1.0930 and 1.1000 (previous buy target set in our earlier forecast for this currency pair). The breakout of these resistance levels accelerated the active impulse wave 3 – which belongs to the intermediate (C)-wave, which is a part of the primary ABC correction ② from the end of October.
AUD/NZD is expected to rise further inside the accelerated C-wave toward the next buy target at the resistance level 1.1200 (forecast price calculated for the completion of the active primary ABC correction ②). Buy stop-loss can be placed below the support level 1.1000.