AUD/NZD broke strong resistance level 1.1020

AUD/NZD broke strong resistance level 1.1020

  • AUD/NZD broke strong resistance level 1.1020
  • Next buy target - 1.1150

AUD/NZD today broke sharply above the strong resistance level 1.1020 (which stopped and reversed the sharp uptrend in March and which was set as the buy target in our earlier forecast for this currency pair). The breakout of the resistance level 1.1020 accelerated the active minor impulse wave (iii) – which belongs to the impulse wave 3 of the intermediate impulse (3) from June. AUD/NZD is expected to rise to next buy target at the next resistance level 1.1150.


EUR/USD: "V-Top" pattern

The pair is likely going to test the nearest support at 1.2313. If a pullback from this level happens little later on...



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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