- AUDNZD reversed from support area
- Further gains are likely
AUDNZD recently reversed up from the support area lying between the key support level 1.0510 (monthly low from May) and the upper daily Bollinger Band.
The upward reversal from this support area completed the previous ABC correction 2 from the middle of April.
AUDNZD is expected to rise further and retest the next key resistance level 1.0630 (top of the previous wave (b) from the end of May).