Has oil lost momentum forever?
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AUD/NZD rising inside minor impulse wave 3
- AUD/NZD rising inside minor impulse wave 3
- Next buy target - 1.1020
AUD/NZD continues to rise inside the minor impulse wave 3 - which started earlier from the support zone lying between the support level 1.0820 and the 50% Fibonacci retracement of the previous sharp upward impulse wave (v) from the end of February. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Morning Star.
AUD/NZD expected to rise to the next sell buy at the resistance level 1.1020 (which stopped the previous minor impulse wave 1 earlier this month).
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Dmitry Chernovolov
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