AUDNZD Testing Resistance – Pullback Toward 1.1069 Expected
AUDNZD is at a significant supply zone, marked by historical price rejections and strong selling pressure in the past. This zone has previously acted as a turning point, where sellers regained control and drove prices lower.
The recent bullish rally has brought the price into this critical resistance area. Given the strength of this supply zone, there is a high probability of a bearish reversal if price action confirms rejection (e.g., bearish engulfing candles or upper wicks signaling selling pressure).
I anticipate a bearish move toward the 1.1069 level, which represents a logical target for this setup. This setup aligns with the expectation of a potential correction within the broader market context.
The recent bullish rally has brought the price into this critical resistance area. Given the strength of this supply zone, there is a high probability of a bearish reversal if price action confirms rejection (e.g., bearish engulfing candles or upper wicks signaling selling pressure).
I anticipate a bearish move toward the 1.1069 level, which represents a logical target for this setup. This setup aligns with the expectation of a potential correction within the broader market context.
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