LeoPrime Daily Market Analysis

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AUDNZD reversed from support area; Likely to rise to resistance level 1.07900.

AUDNZD currency pair recently reversed up from the support zone located between the key support level 1.06650 (which has been reversing the price from the end of January), lower daily Bollinger Band and the 50%Fibonacci correction of the upward impulse from January. The upward reversal from this support zone created the daily reversal pattern Morning Star. Given the strongly Australian dollar sentiment seen today – AUDNZD currency pair can be expected to rise further toward the next resistance level 1.07900 (which reversed the pair earlier this month).

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