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.
