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AUDNZD recently broke the resistance trendline of the daily down channel from the middle of August (which enclosed the previous minor ABC correction). The breakout of this down channel continues the active short term upward impulse wave 3 from the start of September. Given the extended uptrend that can be seen on the daily AUDNZD charts – the pair is likely to rise further toward the next resistance level 1.09600 (top of the (b) wave from the start of this month).
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