• AUDNZD broke key support level 1.0760
• Likely to fall to support level 1.0660
AUDNZD currency pair recently broke the key support level 1.0760 (former monthly high from November) intersecting with the support trendline of the daily up channel from the start of December. The breakout of the support level 1.0760 accelerated the active short-term downward impulse wave 3 – which started earlier with the two daily candlesticks reversal patterns Shooting Star from the key resistance level 1.0835.
Given the strengthening bearish New Zealand sentiment seen across the FX markets today – AUDNZD currency pair is likely to fall further toward the next support level 1.0660 (former minor support from the start of January).