AUD/NZD - DAILY CHART
A INVERSE HEAD AND SHOULDERS PATTERN...

The AUDNZD continues to work higher from an inverse head and shoulders pattern. The “shoulders’ are at 1.1143 (12/27) and 1.1141 (2/26)and "head" is at 1.1052 (1/29). From an Elliott wave standpoint, the recent rallies and decline may be a series of 1st and 2nd waves. In this instance, a 3rd wave would follow (potentially a strong rally). A break above 1.1477 exposes the October high at 1.1661. Short term support is at the 3/11 low at 1.1238 but price needs to remain above 1.1123 in order to keep the bullish bias at the forefront.