AUD/NZD falling inside intermediate impulse wave (5)
- AUD/NZD falling inside intermediate impulse wave (5)
- Next sell target - 1.0570
AUD/NZD continues to decline inside the intermediate impulse wave (5) – which stared earlier, when the pair revered down from the resistance zone lying between the resistance level 1.0800 (former support level and the sell target set in our previous forecast for this currency pair, acting as resistance now after it was broken by the previous downward impulse from the start of May) and the 50% Fibonacci correction of the previous sharp downward impulse.
Having recently broken the support level 1.0640 (which stopped the previous intermediate impulse wave (3)) - AUD/NZD is likely to fall further to the next sell target at the support level 1.0570 (low of the previous minor correction 2 from February).