• AUDNZD reversed from support area
• Further gains are likely
AUDNZD recently reversed up from the support area lying between the key support level 1.0860 (which has been reversing the price from the start of July) and the lower daily Bollinger Band.
The upward reversal from this support area continues the active short-term impulse wave 3 of the medium-term impulse wave (3) from June.
AUDNZD is likely to re-test the next resistance level 1.0970 (which stopped the previous impulse waves (1), 1 and (i)).