AUDNZD at Key Support Level: Will Buyers Step In?

24 Apr

AUDNZD has reached a major support level, marked by prior price rejections and strong buying pressure. This area has historically acted as a demand zone, increasing the likelihood of a bullish reaction if buyers step in again.

The current market structure suggests that if the price confirms a rejection from this support level, there is a high probability of an upward move. I anticipate that, if rejection occurs, the market may head higher toward the 1.07940 level, which serves as a logical target within the current structure. However, a break below this support would invalidate the bullish bias and could lead to further downside.

This setup reflects the potential for a retracement after an impulsive move, supported by the confluence of previous price behavior and the current structure. If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments!

25 Apr

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