FX:AUDNZD   Australian Dollar / New Zealand Dollar
As we can see the area indicated is a MAJOR point of confluence with 1.05000 being a weekly support zone .

Overlapping trendiness from multiple points including one on the weekly time frame

A daily harmonic pattern which is a big indication to expect a bounce from that zone, especially considering the other factors.

And finally, a very oversold market with the stock being around 1.08507.

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