We think that sooner or later AUDNZD will move back to the highs as recent decline has unfolded in three waves which looks like a corrective move; maybe already completed. Break above 1.1000 will be an important evidence for a completed wave c-circled. In that case we will look up to around 1.1200.
AUDNZD 4 Hour Chart
German DAX is turning south after recent sharp move down through the support line of an upward channel connected since start of October. This breakout indicates a completed five wave move, which means that new corrective set-back is underway. We will be looking for an (A)-(B)-(C) drop to 10480 where bears can slow down later this month.
German DAX, 4 Hour Chart