AUD/NZD reversed from powerful support zone

• AUD/NZD reversed from powerful support zone
• Next buy target - 1.0920

AUD/NZD recently reversed up sharply from the powerful support zone lying at the intersection of the pivotal support level 1.0650 (which has been reversing the price from the end of February), lower daily Bollinger Band and the 50% Fibonacci correction of the earlier sharp upward impulse wave ① from January. The upward reversal from this support zone started the active impulse wave ③.

AUD/NZD is expected to rise to the next buy target at the next resistance level 1.0920 (which reversed the pair sharply at the end of April).

Dmitry Chernovolov

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