• AUDNZD reversed from support level 1.0715
• Likely to rise to resistance level 1.0815
AUDNZD recently reversed up from the key support level 1.0715, intersecting with the lower daily Bollinger Band and 61.8% Fibonacci correction of the upward price impulse (C) from February.
The upward reversal from the support level 1.0715 is likely to form the daily Bullish Engulfing – if the pair closes today near the current levels.
AUDNZD is likely to rise further toward the next resistance level 1.0815 (top of the previous corrective waves (2) and 2).