AUDNZD recently broke the support area lying between the key support level 1.08250 (which also stopped the previous short-term impulse (a)) and the 50% Fibonacci retracement of the upward impulse from the start of July. Given the clear bearish sentiment affecting the Australian dollar today – AUDNZD is likely to extend the losses toward the next support level 1.07000 (target price for the completion of the active wave 2, intersecting with the daily down channel from last month).