• AUDNZD broke key resistance level 1.0960
• Further gains are likely
AUDNZD continues to rise inside the short-term impulse wave 3, which recently broke above the key resistance level 1.0960 (which has reversed the price numerous times from the end of May, as can be seen below).
The breakout of the resistance level 1.0960 should accelerate the active impulse wave 3 – which belongs to the medium-term impulse wave (C) from the middle of June.
AUDNZD is likely to rise further and re-test the next strong resistance level 1.1050 (which reversed the price twice in January).