AUDNZD recently fell sharply – after the price reversed down from the pivotal resistance area lying between the resistance level 1.08350 (high of the previous impulse wave 1 from the middle of September) and the upper daily Bollinger Band. The price recently broke support level 1.07070 – which should strengthen the bearish pressure on this currency pair. Given the strength of the resistance support area and the strong bullish sentiment storm affecting the New Zealand dollar at the moment – AUDNZD is likely to remain under bearish pressure and extend the losses toward the next support level 1.06600 (low of the previous short-term correction (ii) from the end of October).