Since 2011 until 2015, AUDNZD went its complete cycle degree from the peak at 1.37960 to its lows at 1.00212. The 5 impulsive waves finished since 2015 and start from there until now in a corrective mode. First correction was just as with a simple zigzag pattern to break the peak of its previous 4th wave up, so that a following corrective ABCDE in a cycle degree have been forming until now. This corrective pattern is at the moment in our technical point of view probably at the end of D leg, anyway need some further confirmation for direction change in that larger degree to say that the E leg is started. In this pattern in a down trend have we but then an up move after E leg finished, because the structure for a first corrective zigzag provided a sign for the further recovery in the long run.
For the long term trading strategy, we need some further swing down and up to get the confirmations that the direction is yet changed to south and E leg is started. The final downswing technically has to break down the 1.0650 handle, then lower price zone at 1.03500 is expected to reach.
For the short term trading strategy, so namely for intraday, we can take a short for AUDNZD when it bounces up to 1.0840, from there give a short.
Take your look at the depicted charts below for more references: