We see AUDNZD completing a potential flat correction within a bigger wave 2 with recently touched resistance zone, which can push prices lower. A flat correction is an elliott wave pattern, which consists out of three waves, with a formation of a 3-3-5. This means wave a and b have both three legs and wave c has five. Thats said, hopefully this pattern is now completed and more weakness will follow. A five wave drop will indicate a change in trend.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.