AUDNZD BULLISH Continuation...No signs of BEARISH breakout now!!
Lets start of by looking at the previous elliot wave formation. We can see that a complete wave 1-5 followed by retracement wave a-c is completed. Currently, what we are able to see is BULLISH momentum starting to take place with recent higher high formation occurring, obeying the trendline drawn. I will be seeing this as a the start of wave 1 which I expects will ends around 1.0800 where 78.6 fib level as well as a resistance level is present there. We could see rejection forming wave 2 and eventually wave 3 to 138.2 fib level. Wave 4 could be a retest to 100 fib level where there is also a strong support level there which I foresee will give AUDNZD another bullish push forming wave 5 till 161.8 fib level.
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