AUDNZD currency pair recently broke sharply through the support area lying between the key support level 1.05500 (which has been reversing the pair from the start of February) and the support trendline of the daily down channel from April. The breakout of this support area accelerated the active impulse waves (iii) and 3. With the strong bullish NZD sentiment seen across the FX markets today – AUDNZD currency pair can be expected to fall further toward the next support level 1.04500 (target price calculated for the termination of the active impulse wave (iii)).