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AUDNZD may go down IF it breaks the support level.

FX:AUDNZD   Australian Dollar/New Zealand Dollar
16 0 1
If AUDNZD             breaks the support level at 1.0806 (pink line) there is a high chance, that we may see a continuation right to 1.0783 (blue line) which is the key support level now confirmed by 3 Fibo retracements (low - 1.0573 to high - 1.0912; low - 1.0700 to high - 1.0912; high - 1.0912 to low - 1.0806) 38,2%, 61,8% and 127,2%, and 2 old resistance (now support) levels (blue rectangles). After this move there is a high chance that the prices will go up again, BUT if this key support will be violated (after a retest I believe) then we may see a downtrend right to 1.0700 (brown line) which is a next very good support confirmed by 61,8% Fibo level, Round Number and an older resistance (now support) level.

So guys watch this pair carefully, because there is an opportunity to make money :)

EDIT: After reaching 50% Fibo (around 1.07434) we may also see a correction confirmed by 3 different Fibo and a small old resistance (now support) lvl             . Sorry guys, didn't see this until now.
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