AUDNZD BEARS ARE SLOWLY CREEPING INTO THIS MARKET
We've seen the Australian Dollar gain against the New Zealand Dollar in the past few weeks with no sign of weakness. But right now price is currently testing a fresh supply zone on the weekly chart and could likely see the bears start to creep into the market and potentially take over.
In the short term we'd like to see price go retest the weekly support at 1.06180 which was a strong resistance area on the daily chart where we saw price consolidate for about a week and a half, nearly two weeks.
Depending on the price action at that level (a break of that 1.06180 level) we could see a further push down to 1.04850 region where price could supported on the monthly chart since that was the last resisted level on the monthly before we saw strong continued bullish pressure.
Stay strapped and control risk🙏🏼📈
In the short term we'd like to see price go retest the weekly support at 1.06180 which was a strong resistance area on the daily chart where we saw price consolidate for about a week and a half, nearly two weeks.
Depending on the price action at that level (a break of that 1.06180 level) we could see a further push down to 1.04850 region where price could supported on the monthly chart since that was the last resisted level on the monthly before we saw strong continued bullish pressure.
Stay strapped and control risk🙏🏼📈
Stay strapped and control risk🙏🏼📈