AUDNZD Technical Analysis 25 October, 2021

• AUDNZD reversed from pivotal support level 1.0435
• Likely to rise to resistance level 1.0500

AUDNZD currency pair recently reversed up from the pivotal support level 1.0435 (former strong resistance from the start of September, which stopped the previous intermediate correction (B) at the start of October as can be seen from the daily AUDNZD chart below). The upward reversal from eth support level 1.0435 is likely to form the daily Japanese candlesticks reversal pattern Bullish Engulfing.

Given the strength of the aforementioned support level 1.0435 and the rising Australian dollar bullishness seen across the FX markets today, AUDNZD currency pair can be expected to rise further toward the next resistance level 1.0500.

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