AUDNZD is making a sharp and strong recovery and is now trading above the 2015 highs, continuing higher within higher-degree wave C of (III). The structure is currently unfolding in wave 5 of an impulse, following the recent breakout from a wave 4 triangle pattern.
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Price now appears to be in the late stages of this impulse from the 2025 low, so upside potential may be limited. Be aware of a possible slowdown and the development of a higher-degree wave (IV) correction, which could retrace the pair back toward the 1.15–1.12 support zone.
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On the 2-hour chart, AUDNZD is approaching the projected 1.20x resistance area for wave (C) of an (A)(B)(C) corrective structure. A continuation lower may follow soon, potentially initiating around the 1.2050 level.
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