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AUDNZD Wave Analysis 17 May, 2021

• 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).

AUDNZD Wave Analysis 17 May, 2021

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