LeoPrime Daily Market Analysis

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AUDNZD reversed from support level 1.05400; Likely to rise to 1.07000

AUDNZD recently reversed up with the daily bullish Japanese candlesticks reversal pattern Morning Star from the key support level 1.05400 (former monthly low from July), lower daily Bollinger Band and the support trendline of the daily down channel from August. Given the growing AUD bullishness seen across the FX markets today, AUDNZD is likely to rise further toward the next resistance level 1.07000 (former support from the end of September). Strong support remains at the support level 1.05400.

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