AUDNZD has been falling sharply in the last few trading sessions inside the (c)-wave of the key ABC correction 2 from the start of November. The pair is currently trading close to the key support level 1.0530 (which reversed the price with the daily Bullish Engulfing at the end of August). Given the strong bearish sentiment affecting the Australian dollar right now – AUDNZD is likely to fall further toward the next support level 1.0460 (low of wave (ii) from August and the target for the completion of wave 2).