AUDNZD under bearish pressure after the earlier downward reversal from the resistance area lying between the key resistance level 1.08350 (which stopped the sharp uptrend in the middle of September) and the upper daily Bollinger Band. Given the strength of the aforementioned resistance area and the significant bullish New Zealand dollar sentiment seen across the markets – AUDNZD is likely to fall further toward the next support level 1.07000 (low of the previous short-term correction from the start of November).
