AUDNZD is making a sharp and strong recovery, tested the 2022 highs, which might be the next important potential resistance for wave (C), but due to an unfinished five-wave bullish impulse, there can be still room up to 1.17 – 1.18 area. Why? Because the pair is now slowing down after completing subwave 5 of 3, so it can be making a higher degree wave 4 correction, which can be a bullish triangle pattern or deeper and complex one. First support is already here around 1.1400 level, while second deeper one would be around 1.1300 level, also near the upper line of the base channel.
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