September 30, 2020 at 03:25PM
• AUDNZD rising inside wave (ii)
• Likely to reach 1.0915
AUDNZD continues to rise inside the short-term correction (ii), which started earlier from the support area located between the key support level 1.0725 (former resistance from June and July), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from July.
The active correction (ii) belongs to the medium-term downward impulse sequence (3) from the middle of August.
AUDNZD is likely to rise further toward the next resistance level 1.0915 (top of the previous minor correction 2 from the start of September).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/audnzd-wave-analysis-30-september-2020-20200930/
Selected by fonecable.com
- Australian Dollar Forecast: Major AUD/NZD Bottom May Soon Be Approaching
- British Pound Slips After Data, Still Tied to Range. Can GBP/USD Break Out Ahead of FOMC?
- How to Research Stocks: A Step by Step Guide
- Gold Price Outlook Turns to UofM Sentiment as US Dollar, Treasury Yields Rally
- New Zealand Dollar Outlook: NZD/USD Drops on US Dollar Bids, Wall Street Losses