AUDNZD Technical Analysis Report 11 June, 2021

• AUDNZD broke resistance zone
• Likely to rise to resistance level 1.0815

AUDNZD currency pair broke the resistance zone lying between the key resistance level 1.0770 (which stopped the price during the last two trading sessions) and the 50% Fibonacci correction of the previous intermediate ABC correction (2) from the end of March). The breakout the resistance level 1.0770 accelerated the active impulse wave 3 – which belongs to wave (C) from May.

Given the strengthening bearish New Zealand dollar sentiment seen across the FX markets today – AUDNZD currency pair can be expected to rise further toward the next resistance level 1.0815 (monthly high from May – which stopped the previous waves B and (ii)).

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