AUDNZD is trading quit nicely, recently completing a triangle of a higher degree at 1.0568, where we labeled end of wave E, and is now slowly trading to the upside. We see price now even reaching higher levels in black wave 3, as recent break out of a corrective channel line connecting from wave b highs of 2 suggest so. That said black wave 3 could be near completion, as pair is now trading in sub-wave iv-circled, which could be finished later this week.
Ideally price will continue towards fibo. ratio of 2.00, where a pullback of a higher degree, wave 4 could start to unfold.
Invalidation level is at-1.08531, as long as it holds we are looking bullish.
Ideally price will continue towards fibo. ratio of 2.00, where a pullback of a higher degree, wave 4 could start to unfold.
Invalidation level is at-1.08531, as long as it holds we are looking bullish.
