AUDNZD currency pair under the bullish pressure after the price broke above the key resistance level 1.07900 (which has been reversing the price from the middle of February). The breakout of the resistance level 1.0790 accelerated the active impulse waves (v), C – which belong to the higher order ABC correction (2).
Given the clear uptrend that can be seen on the daily AUDNZD chart – this currency pair can be expected to rise further toward the next resistance level 1.09300 (target price for the completion of the active impulse wave C, top of the daily up channel from November).
