AUDNZD: is that the END of the TREND CORRECTION?

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🟢Forex Pair:
AUD/NZD

⚪Technical Analysis:
Since the 1st December 2020, the price has been moving with a strong bullish impulse, going up for about 420 pips, reaching the level at about 1.08500.
On that level, the price got a quick rejection, falling down breaking through the S/R zone at about 1.07000, and it is currently reaching the an interesting support zone at about 1.05700, that perfectly match with the 0.61% of Fibonacci retracement.

🔴Conclusion:
This is absolutely a nice trend correction of its previous bullish impulse, and I'm confident to see the price bouncing on the support zone at 1.05700 before moving up again with a new bullish momevent.
I'll be waiting for the price to reach the support zone before planning my long position on this trade.

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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni