AUD/NZD: buy targets - 1.1000 and 1.1100

AUD/NZD recently broke sharply through the resistance zone lying between the resistance level 1.0800, resistance trendline of the daily down channel from August and the 38.2% Fibonacci correction of the previous sharp downward corrective wave ② from the end of last August. The breakout of this resistance zone accelerated the active minor impulse wave 3 – which belongs to the intermediate impulse wave (3) from the start of January.

AUD/NZD is likely to rise further from the current levels toward the next buy target at the resistance level 1.1000 – the breakout of which can lead to further gains toward 1.1100.

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