- AUDNZD broke key support level 1.0400
- Further losses are likely
AUDNZD today broke through the key support level 1.0400 (which stopped the A-wave of the active ABC correction (2) from the middle of January).
The breakout of the support level 1.0400 should accelerate wave C of the active ABC correction (2) from the middle of January.
AUDNZD is expected to fall further and re-test the next support level 1.0300 (target price for the completion of the active impulse wave C).