AUDNZD continues to fall after the earlier breakout of the key support 1.04600 (which reversed the previous downward impulse wave at the start of this month). The breakout of the key support 1.04600 follows the earlier downward reversal from the lower trendline of the wide daily down channel from March (acting as the resistance after it was broken earlier). Given the prevailing daily downtrend and the strong bearish Australian dollar sentiment – AUDNZD can be expected to fall further toward the next support level 1.04200 (previous multi-month low from December).