Today’s analysis will provide an updated long-term wave analysis for the AUD/NZD. The pair could soon be gearing up for a significant bullish impulse.
he entire structure since late 2015 is best counted as complex contracting sideways correction. We appear to be within the later stages of Wave Y right now. The AUD/NZD made another sharp bearish u-turn since May 25. Although price action from this point could still take several paths, I have chosen to show the triangle scenario, keeping with the theme of the contracting price action over recent years.
Price will need to show us more about its final structure over the coming weeks, but a very lucrative buy opportunity should arise at some point within the coming months, as the pattern should resolve itself in a strong bullish impulse, matching that of green Wave A during 2015.
Updates will be posted as and when more certainty emerges.
All the best along your trading journey.