LeoPrime Daily Market Analysis

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AUDNZD reversed from 1.06600 support area; Likely to rise to 1.0800

 

AUDNZD recently reversed up with the daily Morning Star from the support area lying between the key support level 1.0660 (which reversed the earlier wave B), lower daily Bollinger Band and the 50% Fibonacci correction of the previous upward impulse wave from the start of August. AUDNZD is likely to rise further in the active impulse waves (iii) and C toward the next resistance level 1.0800 (target for the completion of the active impulse wave (iii), which also stopped the earlier waves (b) and (i)).

 

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