Aussie Selloff Ahead?
AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
AUD/NZD broke key support level 1.0650
2019-11-11 • Updated
- AUD/NZD broke key support level 1.0650
- Next sell target - 1.0500
AUD/NZD continues to fall inside the sharp minor impulse wave 3 which previously broke below the key support level 1.0650 (which has been reversing the price from the end of February). The breakout of the support level 1.0650 accelerated the active intermediate impulse wave (C) from the end of January. AUD/NZD is expected to fall toward the next sell target at next support level 1.0500 (target for the completion of wave (C)).
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