Due to the weaker in of reserve Bank of New Zealand the kiwi dollar had lose some strength against all the currency pairs
AUDNZD has managed to gain some strength towards 1.10430. At 1.10320 it has formed a formation which triggered selling of kiwi dollar
An it also formed a ABCDE pattern which has further sliding of AUDNZD
Currently this pair was trading in a .
After reaching 1.0900 which is a major psychological level it bounced back towards 1.09600.
Here is a 50% Fibonacci of previous high and low At this juncture clear candle has formed and a pattern.
Suitable selling positions may opened at current level and the target would be 1.08383 which is a next and the expected level of 03
Stop lose may place above 1.10120 level
If the price broke at 1.1000 level this pattern will got invalidated
Important levels to watch
August high - 1.10434
August low - 1.07180
July low - 1.05650
July high - 1.07520