AUD/NZD falling inside impulse waves 3 and (3)
By: Dmitriy Chernovolov
- AUD/NZD falling inside impulse waves 3 and (3)
- Next selltarget - 1.0800
AUD/NZD has been falling sharply in the last few trading sessions – breaking through the two consecutive support levels 1.1030 and 1.0960, which were set previously as the sell targets for this currency pair. The breakout of these support levels greatly accelerated the active minor impulse wave 3, which belongs to the intermediate downward impulse (3) from March. Waves 3 and (3) both started earlier - when the price reversed down from the strong resistance zone lying between resistance levels 1.1250 and 1.1340.
AUD/NZD is likely to fall further to the next sell target at the support level 1.0800 (target price calculated for the completion of the active impulse wave 3).