AUDNZD currency pair under the bearish pressure after it broke the key support level 1.03500 (which stopped the previous micro impulse wave at the end of September). The breakout of the support level 1.03500 follows the earlier downer reversal form the resistance level 1.04220 (previous multi month support level from December). Given the strong multi-month downtrend and the bearish AUD sentiment seen across the FX markets today, AUDNZD currency pair can be expected to fall further toward the next support level 1.02500 (target price for the completion of the active minor impulse wave (iii)).
