AUD/NZD broke pivotal resistance level 1.0920

AUD/NZD broke pivotal resistance level 1.0920

  • AUD/NZD broke pivotal resistance level 1.0920
  • Next buy target - 1.1020

AUD/NZD today broke above the pivotal resistance level 1.0920 (which stopped the B-wave of the previous intermediate ABC correction (2) rom March, as can be seen from the daily AUD/NZD chart below). The breakout of the resistance level 1.0920 follows the earlier breakout of the resistance level 1.0850 (which stopped the previous impulse waves 1, (iii) and (i)). AUD/NZD is expected to rise to next buy target at the next resistance level 1.1020 (multi-month high from March).

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