AUDNZD to fail at 1.3190

AUDNZD appears to be completing Wave 4 Green which is currently about 30 pips below its invalidation point at 1.3189. The 1.3150 - 1.3200 zone that we are now in has reversed prices on four other occasions in recent months. Furthermore 1.3173 is the 61.8% retracement of the Wave 3 Green decline. Therefore I expect current resistance to hold leading this pair to new lows. 


*Wave 1 Green must be a leading diagonal as Waves 1 and 4 overlap.