We talked about AUDNZD back on August 26, where we mentioned and highlighted strong resistance.AUDNZD is nicely turning down now from projected 61,8% Fibo. retracement and 1.11-1.12 resistance area. A decline looks quite strong, so it can be at the beginning of a bearish wave (C) with a leading diagonal pattern into wave 1 that can be now followed by a pullback in wave 2. It can actually revisit the 1.10x resistance area as a right shoulder of Head&Shoulders pattern before a bearish continuation within wave 3 of a five-wave bearish cycle, especially if later breaks below 1.0735 bearish confirmation level. 
AUDNZD Daily ChartFor more analysis like this, you may want to watch below our latest recording of a live webinar streamed on September 16 2024:More By This Author:Elliott Wave: Can FED’s Cuts Send Dollar To 100 Or Lower?
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