GBP/JPY reversed from support zone Next buy target - 158…
AUD/NZD reversed from resistance zone
- AUD/NZD reversed from resistance zone
- Next sell target - 1.1000
AUD/NZD recently reversed down from the resistance zone lying between the multi-month resistance level 1.1300 (which has reversed numerous upward impulse waves from the end of 2014, as can be seen from the weekly AUD/NZD chart below) and the upper weekly Bollinger Band. Given the strength of the aforementioned resistance zone - AUD/NZD can be expected to fall further to the next sell target at the next support level 1.1000.
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We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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