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AUD/NZD: Price Approaching Triangle Support (Elliott Wave forecast)

NZD is doing much better compared to AUD for the last few weeks, but with RBNZ on Wednesday the flows may change. From an Elliott wave perspective, we see pair coming down into big and important Fib support at 1.0650-1.07 where we expect temporary support for wave D that belongs to a higher degree triangle. Triangle it’s an A-B-C-D-E pattern, so we may have to wait and be aware of more sideways price action through the summer, before the market may finally break lower; ideally later this year.

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