LeoPrime Daily Market Analysis

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AUDNZD reached buy target 1.0800 likely to fall to 1.0660

AUDNZD previously reversed down from the resistance area lying between the resistance level 1.080 (previous buy target), 1.0850 (top of the previous impulse wave 1) and the upper daily Bollinger Band. The downward reversal from this resistance area stopped the previous impulse wave (iii).
Given strength of the aforementioned resistance area, AUDNZD is likely to fall further toward the next support level 1.0660 (low of the previous waves and (ii)) – intersecting with the 50% Fibonacci correction of the previous upward impulse from August).

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