AUDNZD today broke below the pivotal support level 1.06500 (which has been reversing the price from the middle of June). The breakout of the support level 1.06500 continues the active short-term impulse wave (c) of the short-term ABC correction 2 from the end of June. Given the overriding pro-NZD sentiment seen today – AUDNZD is likely to extend the losses toward the next support level 1.05850 (low of the previous correction (2) and the forecast price for the completion of the active ABC correction 2).
