AUDNZD Technical Outlook: Breakout Above Key Resistance Signals Continued Upside Potential

AUDNZD has broken through a critical resistance zone, marking a significant bullish development in the pair’s recent price action.

The resistance zone in question spans between the key level of 1.2260 — which has been acting as a price reversal point since May — and the resistance trendline of the daily upward channel that has been in place since the same period.

This breakout has accelerated the active impulse wave 3 within the broader intermediate impulse wave (5), a pattern that has been developing since the end of June.

Given the established daily uptrend, AUDNZD is expected to continue its upward trajectory toward the next resistance level at 1.2500.

Source link