AUDNZD continues to fall strongly after the earlier breakout of the support area set between the support level 1.04810 (which reversed the price in April), 50% Fibonacci correction of the upward impulse from March and the support trendline of the daily down channel from the middle of August – which accelerated the active impulse wave 3. Given the strength of the pro NZD sentiment seen across the FX markets today – AUDNZD is likely to fall further toward the next support level 1.04000 (target price for the completion of the active impulse wave (iii)).
