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AUDNZD revving up for another bullish leg
Since the intraday break below 1.092 and prompt reversal AUDNZD has rallied over 420 pips in four sessions, suggesting the 1.0893 low was the end of an ABC correction. We cannot yet rule out another leg or two lower (to form a Double Zig Zag or Triple 3) but I see potential to for the cross to find support above 1.113 on the intraday timeframes before breaking to new highs. Friday also produced an Inverted Hammer to suggest weakness from the bulls, but I am open to a temporary break beneath Friday's low and for a base to be found around 1.111-15. If this support level does indeed hold then we could have an Inverted ... (full story)
