• AUDNZD reversed from resistance area
• Likely to rise to fall to support level 1.0760

AUDNZD currency pair recently reversed down from the resistance area lying between the pivotal, multi-month resistance level 1.0830 (which has been reversing the price from the middle of January) intersecting with the upper daily Bollinger Band. The downward reversal from this resistance area stopped the previous minor ABC corrective wave (ii).

Given the proximity of the resistance level 1.0830 and the rising bullish sentiment affecting the Australian dollar today – AUDNZD currency pair can be expected to fall further toward the next support level 1.0760 (former resistance level from the start of March).