AUDNZD is showing weakness on the 1-hour chart after failing to hold the recent recovery area near 1.2160–1.2170. Price has now moved back below the 0.382 Fibonacci level, which suggests that sellers may continue to control the short-term direction.
My next downside area to watch is around 1.2054. If the bearish momentum continues and this level breaks clearly, I expect price to move towards the 1.2020 zone.
My next downside area to watch is around 1.2054. If the bearish momentum continues and this level breaks clearly, I expect price to move towards the 1.2020 zone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.