October 08, 2020 at 03:46PM
• AUDNZD rising inside impulse wave (iii)
• Likely to reach 1.0940
AUDNZD continues to rise inside the short-term upward impulse wave (iii) – which belongs to the higher-order upward impulse waves 3 and (3).
The price earlier broke the resistance trendline of the daily down channel from August – which added to the bullish pressure on this currency pair.
AUDNZD is likely to rise further toward the next resistance level 1.0940 (top of the (b)-wave from the middle of September).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/audnzd-wave-analysis-7-october-2020-20201008/
Selected by fonecable.com
- NEWS: Central bankers believe they have a secret weapon against inflation. They’re tragically wrong. February 28, 2021 at 04:26PM
- Weekly Technical US Dollar Forecast: Finally Turning Higher?
- S&P 500 Forecast: Will Rising Yields Derail Stock Market's Upward Trajectory?
- How to Manage the Emotions of Trading
- Brazil cenbank intervenes in FX as real slide deepens, down 7% this year