AUDNZD has more room to drop

The AUDNZD pair followed exactly the pattern we presented on our previous analysis on September 23 and after completing a standard +4.70% rise on the blue Channel Up, it broke below it:


The pattern that was our benchmark on this accurate projection was the January - July 2021 Megaphone. After a rebound on the 0.786 Fibonacci level, the price got sold-off to a new Low on the 1.618 Fibonacci extension. That extension on today's pattern is just below 1.07000. Only a 1W MACD Bullish Cross can invalidate the selling.



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