AUDNZD Wave Analysis

• AUDNZD reversed from support area
• Likely to rise to resistance level 1.0750

AUDNZD currency pair recently reversed up from the support area located between the pivotal support level 1.0670 (which has been reversing the price from January) and the lower daily Bollinger Band.

This support area was further strengthened by the 50% Fibonacci correction of the sharp upward impulse wave (i) from the middle of January.

Given the strength of the aforementioned support area – AUDNZD currency pair can be expected to rise further toward the next resistance level 1.0750.